Coal India’s production hits record high of 160 mt in April-June

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State-owned Coal India on Friday said its production hit a record high of 159.8 million tonne in the April-June quarter of FY23, up 29% year-on-year.

“The likeness of such growth was never witnessed in any Q1 since CIL’s inception. Our first quarter production surge of nearly 36 MTs surpassed the entire annual increase of 26.4 MTs of FY’22″ said a senior official of the company.

Only twice before, CIL’s total yearly production was higher than what it achieved during the current year’s first quarter alone.

In its bid to achieve the fiscal’s 700 mt output target, CIL began FY23 with an asking rate of 12.4%. The steep production gain of Q1 helped the company bring down the asking growth rate to 8.3%. Increased production enables better stock build-up.

Coal output for June at 51.6 mt also registered 29% growth with a volume increase of 11.5 mt. CIL produced 40 mt coal in June.

With the coal demand from power plants reaching a higher pitch, CIL’s supplies to the power sector peaked at a new high of 153.2 mt during the quarter registering a strong growth of 19.8%. The expansion in absolute terms was a robust 25.3 MTs over 127.9 MTs of last fiscal’s Q1.

CIL on average supplied 1.684 mt of coal per day to the power sector during the quarter ended June against the requirement of 1.650 mt per day, resulting in 102% materialization.

In 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% materialization.

CIL’s offtake to power sector, during June, clocked a sharp 27% growth at 51.4 mt. Higher supplies during the month resulted in coal stock accretion to the tune of 77,000 tn per day at the power plants’ end.

Total coal off-take during the quarter ended June was 177.6 mt, nearly 11% higher. CIL’s total off-take for June rose 15.4% to 59 mt.

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