Friday, June 24, 2022

Coal India’s coal production up by 28.8% in Apr-May period

Coal India has produced 108.2 million tonne of coal in the first two months of the ongoing fiscal year, registering year-on-year increase of 28.8 percent

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  • Coal India’s output in May increased to 54.7 MT from 42.1 MT in the corresponding month of previous fiscal year, the filing said
  • During May’22, CIL’s despatch to the power sector at an average of 1.69 MT per day was higher than the demand of 1.65 MT, said the PSU

New Delhi: State-owned Coal India Ltd (CIL) said on Wednesday that it produced 108.2 Million Tonnes (MT) of coal in the first two months of the ongoing fiscal year, registering a year-on-year increase of 28.8 percent. The company had produced 84 MT of coal in April-May last fiscal year, Coal India Ltd (CIL) said in a filing to the stock exchanges. The company’s output in May increased to 54.7 MT from 42.1 MT in the corresponding month of previous fiscal year, the filing said.

“Accelerating its production, CIL posted a strong 30 percent output growth in May’22. The increase in volume terms was 12.6 MT,” CIL said in another filing.

Coal India targeting production of 700 MT for 2022-23

Facing a production target of 700 MT for 2022-23, which entailed 12.4 percent growth rate at the beginning of the fiscal year, CIL brought down the year’s asking growth rate to 9.9 percent by the end of the last month. “Admittedly, sustaining the level of growth witnessed so far, throughout the year, is difficult but we will be monitoring the progress month by month to augment the output,” said a senior official of the company.

CIL daily supplies to power sector at 1.69 MT

“During May’22, CIL’s despatch to the power sector at an average of 1.69 MT per day was higher than the demand of 1.65 MT. This helped the stock at power plants, having linkage with CIL, go up by 16,000 tonne per day during the month,” the statement said. CIL supplied 52.4 MT to the power sector last month, against 44.5 MT supplied in May last fiscal year.

Concurrently, Coal India’s supplies to thermal power plants jumped to 102.2 MT till May, registering a growth of 16.7 percent over April-May 2020-21. CIL’s total offtake for May was 61.2 MT compared to 55 MT in the year-ago period, whereas the total offtake for April-May was at 118.7 MT against 109.2 MT in the year-ago period.

CIL was able to liquidate the coal stock at its end from a level of 60.6 MT at the beginning of the year to 50.2 MT as of May 31, 2022.

Coal India accounts for over 80 percent of domestic output.

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