India's largest coal miner said in a filing on Monday that May production fell
nearly 12% and output since April is down about 11% YoY, even as sustained heat
pushed power demand to new highs. Exports rose only 1%. Unsold inventories have
stayed above 100 mln t over the past year, constraining production as demand
lags supply. The company said the drop in output during peak months highlights
challenges from energy-market diversification and that its former near-monopoly
is being eroded by new state and private producers taking market share.