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Indicating a revival in demand for the dry fuel, Coal India Ltd (CIL) posted a 25 per cent rise in coal off-take for October 2020 at 50.5 million tonnes (mt) as compared to 40.4 mt recorded the same period last year.
Coal production witnessed an increase of around 19 per cent at 46.8 mt in October this year, as against 39.5 mt last year.
The State-owned miner had been registering a negative growth in production till August this year on the back of subdued demand induced by the Covid-19 pandemic.
“For the first time CIL posted a positive growth for the year by registering a production growth of around 0.9 per cent during April-October, 2020 at 282.9 mt,” said a press statement issued by CIL.
The company is hopeful of achieving 5-7 per cent growth in production at around 640-650 mt in FY21, as compared with 602.14 mt recorded in 2019-20.
All the subsidiary companies of CIL recorded growth in supplies.
“Though the progressive growth in output was nominal, importantly we could wipe off the negative trend and now look forward to consolidate the positive pattern for the rest of the fiscal,” a senior company official said in the release.
The decline in off-take growth for the year was arrested by over 3.5 per cent in October from that of 7.6 per cent in the previous month. CIL hopes to neutralise the negative growth and start on the path of recovery by November end.
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