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Coal India Ltd (CIL), which had registered a laggard growth in both production and offtake during the beginning of this fiscal, has witnessed a rise across both the parameters during the third quarter of this fiscal.
The over burden removal, which is a crucial performance indicator, also registered an increase during the quarter under review as compared to same period last year.
Also read: Coal India plans 21 additional railway sidings
CIL’s output registered a rise of over six per cent at 156.8 million tonnes (mt) during the October-December quarter this year, as against 147.5 mt same period last year. On a sequential basis, the output increased by nearly 41.8 mt clocking a growth of over 36 per cent as against a production of 115 mt clocked during Q2 of the current fiscal, said a press statement issued by the company.
Offtake up 9%
The state-owned miner also posted over nine per cent growth in offtake during the quarter under review at 154.6 mt as compared to 141.6 mt during Q3 last fiscal. The quarter-on-quarter growth was 15 per cent compared to the offtake of 134.3 mt during July-September’20.
“With the non-power sector consumers lifting increased quantities of coal during this year’s Q3, CIL could record a robust 43.4 per cent growth in supplies to this sector,” a senior company official said in the release.
For October-December’20. CIL supplied 36.62 mt to non-power consumers compared to 25.53 mt same period last year. The incremental supply during the period was a little over 11 mt.
The demand for coal from the power sector is yet to crystallise fully, the executive pointed out. Despite the tepid demand, there was a nominal growth of around one per cent in supplies to power plants during the third quarter of this fiscal. CIL’s offtake to power sector was 117.8 mt during the third quarter as against 116.07 mt same period last year.
Its OBR clocked a growth of around 18 per cent at 366.23 million cubic metres (M.CuM) in Q3 FY’21, clearing the way for easier future production. OBR was 311.52 M.CuM for the comparable quarter last year. CIL has been registering a steady growth in OBR since the beginning of the fiscal.
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