Coal India output growth in absolute terms marks a new milestone

New Delhi: State-run Coal India Ltd's (CIL) production increased by 44.6 million tonnes (MT) in just 5 months and 4 days of the ongoing fiscal, as of September 4, eclipsing the previous best of 44.5 MT registered in FY16, which though was for the entire year, said the coal miner in a statement on Wednesday. The record milestone was achieved when CIL's progressive production touched 259.6 MTs on September 4 of the current fiscal, compared to 215 MT on the same date last year. "What makes the achievement standout is that CIL accomplished the absolute growth of 44.6 MTs in production in only a span of 5 months and 4 days of the current fiscal whereas the earlier high of 44.5 MTs was for the full fiscal of 2015-16", said a senior executive of CIL.

Coal India targeting 700 MT production in FY23

Pursuing 700 MT production target in FY23, CIL began the chase with an asking growth rate of 12.4 percent which, on the back of a strong output performance, slid down to 8 percent as of now. All the subsidiary companies of CIL have posted growth over the last year.

CIL usually produces higher volume of coal during the second half of the financial year than in the first half. Of the 700 MT target for FY23, the production split is around 44 percent for H1 and 56 percent for H2.

At the current pace of production, if CIL's mining areas are not excessively affected by heavy seasonal deluge in September, the company is hopeful of reaching close to the apportioned H1 target of 306 MT.

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