Coal India CMD hints at price hike

The costs of Coal India have gone up and there is no reason that the state-run company should not increase the price of the dry fuel, the PSU's Chairman and Managing Director Pramod Agarwal said. During the Q1 FY22 earnings conference call, CMD Pramod Agarwal, said: "Coal India (CIL) is in discussion with all the stakeholders and in general everybody is on board. Coming to the price point, because our costs have increased everywhere, there is no reason that CIL should not increase the price."

"Coming to the base price of auction, now it has been restored in most of the cases, and we are providing some premium right at the beginning, we are adding some premium at the best price only and there is no opposition from any quarter, whatever opposition is there we are tackling that," Agarwal added.

He further said that CIL's dispatches and production despite all the constraints of Covid-19 have been good. This was a particularly difficult quarter for Coal India (CIL) because in these three months Covid-19 affected every stage of operation.