For the first time in 15 months, Coal India Ltd.'s monthly output and shipments fell yearover year in April as stockpiles rose amid weak demand, Bloomberg News reportedMay 2.
Coal output slipped 3.4% year over year to 40.09 million tonnes,while shipments decreased 2.5% to 42.45 million tonnes.
The month's numbers were the lowest since September 2015, andmarked the first annual decline since January 2015.
Stockpiles at Coal India's mines were almost 58 million tonnesas of April 1, due to decreased off-take by power utilities, according to an earlierstatement by Indian Coal and Power Minister Piyush Goyal cited by Bloomberg.
The company slashedthe prices of high energy content coal by up to 40% in mid-April, citing a largestockpile, excessive coal production and a sharp decline in global prices.