Coal India Ltd posted the first decline in annual shipments in at least six years as demand from power producers weakened and its production was hit by heavy rains earlier in 2019.
Shipments fell 3.8 per cent in 2019 from a year ago to 580.8 million tons, according to Bloomberg calculations based on data from the state-run company dating back to 2013. The production slipped 2.2 per cent to 582.8 million tons, the data showed.
On a monthly basis, shipments rose 1.9 per cent in December from last year to 53.63 million tons, the Kolkata-based miner said on Wednesday. Output climbed 7.2 per cent to 58.02 million tons.
