Coal India raises price of non-coking coal
The increase in prices would lead to incremental revenue of ₹2,703 crore for the remaining period of the current fiscal (FY24).
PremiumNew Delhi: A week after approving its new wage agreement allowing higher allowances and benefits for non-executive employees, Coal India Ltd (CIL) raised the price of non-coking coal by 8%.
In a regulatory filing, the company said the revision would come into effect from 31 May. This is the first hike in the price of non-coking coal in five years. The last hike in the prices of non-coking coal was carried out in 2018.
The increase in prices would lead to incremental revenue of ₹2,703 crore for the remaining period of the current fiscal (FY24). “This will be applicable to all subsidiaries of Coal India, including NEC for regulated and non-regulated sectors," it said.
On 26 January, Mintreported CIL is weighing increasing the price of coal.
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