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Email X Reddit LinkedIn Tumblr Coal India's Profit May Dip as Iran War Lifts Mining CostsState-run miner Coal India
Ltd.’s first-quarter profit likely declined marginally from a year earlier, led by costlier raw materials, such as
explosives and diesel following the Middle East war.Author of the article:Bloomberg NewsRajesh Kumar SinghPublished Jul
26, 20262 minute read Join the conversation You can save this article by registering for free here. Or sign-in if you
have an account.Article content(Bloomberg) — State-run miner Coal India Ltd.’s first-quarter profit likely declined
marginally from a year earlier, led by costlier raw materials, such as explosives and diesel following the Middle East
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is included in your subscription. Activate your Online Access NowArticle contentAverage of estimates point to a profit
of 86.4 billion rupees ($895 million), about 1% lower than a year earlier, according to analyst views compiled by
Bloomberg. Higher expenses may wipe out gains from stronger demand during the quarter. The company said in April that it
was absorbing higher costs to avoid a “cascading effect” on the economy. Article contentWe apologize, but this
video has failed to load.Try refreshing your browser, ortap here to see other videos from our team. Back to video
Article contentArticle contentThe war resulted in an effective closure of the Strait of Hormuz, a key supply route for
energy and commodities to India, causing shortages of fuels such as diesel, natural gas, and cooking gas and leading to
a surge in prices. At the start of April, the cost of explosives used for blasting layers of soil sitting over mineral
deposits had risen 26% from pre-war levels, while price of diesel, used to fuel mining machinery, had risen by about
half since the middle of March, according to Coal India. Article contentTop StoriesGet the latest headlines,
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don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an
issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentOperationally, the
quarter was marked by sales growth as demand for electricity to run cooling appliances was stronger during summer. While
shipments rose nearly 4% from a year earlier, the miner also sold more coal in auctions that fetched a 44% premium over
base prices. Peak electricity demand posted new records during the period, pushing utilization at the country’s coal
power plants upward and boosting generation by 8% from a year earlier, power ministry data show.Article contentStill,
the fuel’s contribution in India’s generation during the quarter remained flat at around 70%, while renewables
gained more ground with a record 19% share. That kept Coal India’s unsold inventory at elevated levels, forcing the
miner to cut output by about 8% during the quarter.Article contentRapid deployment of renewables as well as rising
competition from other miners has challenged Coal India’s dominant position in India’s coal market. Even though coal
is expected to remain an important part of the country’s energy mix for at least a decade, challenges on the horizon
have pushed Coal India to diversify into renewables and mining critical minerals.Article contentAdvertisement 1This
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