Coal production of CIL grows by 17% in November FY23

Coal India Ltd's (CIL) coal production of 412.6 MT during April-November 2022 evinced a sharp y-o-y increase of 59.2 MT with growth of around 17 percent
Production of CIL grows by 17% in November FY23
Production of CIL grows by 17% in November FY23

New Delhi: Coal India Ltd's (CIL) production of 412.6 Million Tonnes (MT) during April November 2022 evinced a sharp y-o-y increase of 59.2 MTs with a strong growth of around 17 percent, said the PSU in an official statement on Thursday. Coal production was 353.4 MT for the comparable period last year. The statement said, "CIL has achieved 99.7 percent of the progressive production target and brought down the annual asking growth rate by almost half to 6.7 percent. The company began FY23 with an asking rate of 12.4 percent in a bid to edge past the year's output target of 700 MT. The state-owned coal miner has to produce 287.4 MT of coal during the remaining four months of the current fiscal to reach its FY23 output target."

"This is achievable with strong augmentation in production so far and overburden removal displaying robust growth that helps in faster extraction of coal in the coming months, we feel confident of surpassing the fiscal's production target. Also, during Q4, production steps up into higher trajectory," said a senior official of CIL.

CIL records 13% growth in Nov FY23

With 60.7 MT production in the month of November, CIL achieved 100 percent of its target, clocking nearly 13 percent growth over 53.8 MT recorded in November last year. The increase was 6.9 MT in absolute terms. Sequentially, production has risen by 14.7 percent in November over 52.9 MT recorded in October and the volume has increased by 7.8 MT.

CIL registers growth of 11.6% in supply to power plants

Boosting CIL's prospects of ramping up future production, overburden removal
surged ahead by 18 percent ending November. CIL excavated 984.5 MCuM of topsoil till November against 835 MCuM for the comparable period of FY22. OBR growth for the
month was 28.4 percent. CIL's supplies to power plants went up by 39.5 MT to 380.7 MT during April-November, posting 11.6 percent growth. Supplies were 341.2 MT in the year-ago period. Total coal offtake to all consuming sectors was 445 MT till November FY23 with a jump of nearly 24 MT, registering y-o-y growth of 5.7 percent. Coal stock at CIL's pitheads at the end November stood at 28.5 MT.

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