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Coal India Ltd has reported 5.5 per cent higher off-take of coal to 142 million tonnes during the April-July 2011 period compared with the corresponding period in the previous year. The higher availability was ensured by liquidating the pit-head stock and despite a low production.
In a press release issued on Wednesday, the coal major reported liquidation of approximately 14.5 mt of its opening stock of a little over 69 mt as on April 1 this year. The pit-head stock was accumulated due to historic mismatch between production growth and off-take.
With its production growth comes to a standstill since last year, CIL decided to utilise the opportunity to liquidate this abnormally high coal inventory, amounting to approximately 16 per cent of last year's production.
The CIL shares are also slated to be included in the 30-stock BSE SENSEX beginning July 8.
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