Coal India Limited (CIL) achieved higher E-auction sales in Q3FY17 despite prevalence of tepid demand. During the third quarter of the current fiscal, the coal major sold 25 MnT through E-auctions, achieving a 66.6% rise over the similar sales of 15 MnT in Q3FY16.
An intra-fiscal comparison reveals that the E-auction sales during Q3FY17 also overtook that in Q2FY17, at 19 MnT, by 31.5%.
In Q3FY15, the E-auction sales were remarkably lower at 5.6 MnT.
In terms of prices, CIL realized lower E-auction prices in the quarter under review on a year-on-year comparison. In Q3FY17, the state-run coal miner realized INR 1,576/MT as the average price in E-auction sales, mainly due to lower coal prices. In Q3FY16, the E-auction price realization was higher at INR 1,866/MT. Moreover, the E-auction average price realization in Q2FY17 was lower at INR 1,348/MT.
SUMMARY
| Quantity in MnT | |||||
| Q3FY17 | Q2FY16 | Q3FY16 | Y-o-Y Change (%) | Q-o-Q Change (%) | |
| E-auction Sales | 25 | 19 | 15 | 66.6 | 31.5 |
| E-auction Average Prices | 1,576 | 1,348 | 1,866 | -15.5 | 16.9 |
| Production | 148 | 104 | 144 | 2.7 | 42.3 |
Source:CoalMint Research
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