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Coal India Ltd (CIL) has registered 29 per cent growth in production at 159.8 million tonnes (mt) during April-June quarter of the current fiscal (FY-23), which is 35.8 mt more than the output of 124 mt recorded in the same period last year.
All the coal companies of CIL have registered growth during the quarter under consideration .“The likeness of such whopping growth was never witnessed in any Q1 since CIL’s inception. Our first quarter production surge of nearly 36 mt surpassed the entire annual increase of 26.4 mt of FY’22,” the company said in a press statement.
In its bid to achieve the production target of 700 mt during the current fiscal, CIL began FY23 with an asking rate of 12.4 per cent. The steep production gain of Q1 has helped the company bring down the asking growth rate to 8.3 per cent.
Better stock build up
Increased production enables better stock build up, which is crucial given the anticipation of a possible shortfall in coal supplies.
With the coal demand from power plants reaching a higher pitch, CIL’s supplies to power sector peaked to a new high of 153.2 mt during the quarter, registering a growth of around 20 per cent as compared with 127.9 mt during same period last year.
The state-owned miner on an average supplied 1.684 mt of coal per day to power sector during the first quarter against requirement of 1.650 mt per day, resulting in 102 per cent materialization, the release said.
In the month of June, supplies to coal fired plants have gone up to 1.713 mt per day against projected requirement of 1.6 mt, resulting in 107 per cent materialization.
CIL’s offtake to power sector in the month of June this year clocked a 27 per cent growth at 51.4 mt as against 40.4 mt in June’21. Higher supplies during the month resulted in coal stock accretion to the tune of 77,000 tonnes per day at the power plant’s end.
Total coal offtake during the first quarter grew by 11 per cent at 177.6 mt as against 160.3 mt in April-June’21.
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