Coal India Limited’s shares were up 3.45 per cent after the company reported its performance, for records in both coal production and supplies. The coal output for the month reached 78.4 million tonnes (MTs), showcasing a year-on-year growth of 9.1 per cent. The company informed, that despite the challenging target of 780 MTs for the fiscal year 2024, CIL produced 610.3 MTs until January, marking a growth of 10.8 per cent.
CIL further reported their commitment to meeting the demands of the power sector, reaching 55 MTs to coal-fired plants. The total off-take for the ten-month period of the fiscal year increased by 47.2 MTs, with a growth rate of 8.3 per cent, totaling 619.5 MTs.
Additionally, the average loading of 315.2 rakes per day to all consuming sectors set a new record, The loading to power plants also experienced a significant surge, averaging 288.4 rakes per day in January.
The shares were up by 3.45 per cent to Rs 421.10 at 3.12 pm on the BSE.