Coal India (CIL) reported a steady set of Q2FY20 numbers. Higher-thanexpected FSA realisations supported overall earnings for the quarter. The company reported a sales volume of 122 million tonne (MT) (down ~11% YoY). FSA sales volume came in at 104 MT (broadly in line with our estimate of | 105 MT) while FSA realisations during the quarter was at | 1439/tonne (up 5% QoQ, higher than our estimate of | 1350/tonne). E-auction volumes came in at 15 MT (broadly in line with our estimate of 14 MT) while the eauction realisations were at | 2020/tonne (down 6% QoQ, broadly in line with our estimate of | 2000/tonne). The company reported a total operating income of | 20383 crore, down 7% YoY. EBITDA came in at | 3611.2 crore,...