New Delhi: Maharatna coal PSU, Coal India Limited (CIL) on Friday said its coal production grew by 11.5 percent to reach 460 million tonnes (MT) during the April-November period of the ongoing fiscal.
CIL accounts for over 80 percent of domestic coal output.
The company had produced 412.5 MT of coal in the year-ago period, Coal India Ltd (CIL) said in a statement.
"With 11.5 percent year-on-year growth CIL stayed ahead of the annual asking rate of 10.2 percent. The production saw an upsurge of 47.4 MT in quantum terms compared to 412.5 MT of same period last year," the PSU said.
Public Sector's voice PSU Watch is now on Whatsapp Channels. Click here to join
All the seven arms of CIL have registered growth with two of them, BCCL and NCL, achieving their respective progressive targets.
During the last month CIL's production increased by 8.7 percent to 66 MT from 60.7 MT in the corresponding month of previous fiscal.
Supply of coal by CIL to the power sector registered a rise of 4.7 percent to 398.7 MT in the April-November period compared to 380.8 MT in the year-ago period.
"CIL feels confident of breaching the demand projection of 610 MT placed on it by the Ministry of Power for the current fiscal," it said, adding that in a challenge, during remaining four months of FY'24, CIL has to grow over the high base of the penultimate four months of previous financial.
All the efforts are in this direction.
Year to date coal stock at CIL's pitheads is at 45 MTs, which is around 58 percent more compared to 28.5 MTs of the same period last year.
CIL's total supplies were at 485.4 MT during the first eight months of the current fiscal, registering a growth of 8.7 percent.
The supplies by the maharatna firm was at 446.4 MT during the corresponding period of FY'23.
"For the month of November 2023 coal off-take of 63 MTs was higher by 2.3 MTs compared to 60.7 MTs of November 2022," it said.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)