Coal India has suffered losses to the tune of Rs 700 crore in the April-June quarter owing to a sharp rise in diesel prices. The company lost about Rs 700 crore as diesel prices increased by about 35 per cent. It was in the range of Rs 66-67 and now at around Rs 89. This has been a substantial rise.
The company has been drawing up plans to replace its diesel-run heavy machinery with LNG-fired equipment, and adding 1,500 electric vehicles to its fleet in the next five years to support carbon emission cuts.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
