Coal India production rises by 14% during Apr-Feb period

New Delhi: State-owned Coal India Limited (CIL) produced 619.7 million tonnes (MT) in the April-February period of the current fiscal, registering a year-on-year growth of 14.3 percent. The company had produced 542 MT of coal in the year-ago period.

CIL on its way to breach production target of 77.3 MT

"This is a 100 percent achievement against progressive target. With a quantum gain of 77.3 MT, CIL is well on its way to breach the production target of 700 MT of FY23," said Coal India Ltd (CIL) in a statement. All the subsidiaries of the coal behemoth have logged growth over previous year.

CIL began its 700 MT target chase with a growth rate of 12.4%

On progressive basis, CIL has consistently maintained a high double-digit production growth since the beginning of the fiscal. CIL began its 700 MT target chase with an asking growth rate of 12.4 percent. "The company is aiming to augment the growth further in March 2023 and any increase would have supplementary influence over the target," said a senior official of the company.

CIL produced 1.37 lakh tonnes more coal per day in Feb

Despite being a shorter month, CIL's output last month stood at 68.8 MT, the highest for the month in any year till now. This represents a growth of seven percent compared to February last year. "The increase of 4.5 MT in volume terms was notched over a high base of 64.3 MT," it said. Sequentially, compared to January this fiscal, CIL on an average produced 1.37 lakh tonnes more coal per day in February. CIL's total supplies at 630.5 MT increased by 30.6 MT, year-on-year, during the April-February period of the current fiscal.

CIL supplied 46 MT more coal to the power sector in 11 months

The company posted a growth of 5.1 percent compared to 599.8 MT of corresponding period last year. Three of CIL's subsidiaries namely, BCCL, NCL and MCL have surpassed their respective annual off-take targets. Amid rising demand, the PSU supplied 46 MT more coal to the power sector in 11 months of the current financial year at 534 MT. This is a 9.4 percent growth compared to 488 MT in the same period last financial year. Despite higher supplies to consuming sectors, CIL ended February with 50 MT coal stock at its pitheads.

(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.)