Fossil Fuels
Coal India reports lower revenue for the quarter as demand for power declines
Coal India, the company that produces more than 75% of India's coal, announced a decline in revenue for the fourth quarter on Wednesday. The drop was attributed to a lower demand for electricity. The company, which produces mainly thermal coal for industries and power generation, reported a 1% decline in revenue from operations to 378.25 trillion rupees (4.47 billion dollars) during the quarter ending March 31. India's coal consumption remained low from January to March due to a slowdown of manufacturing, which led to a lower demand for electricity. The coal production of the company fell by 2% during the...