Coal India logs 12.6% yoy growth to 51.4 MT in September 2023

Coal India Limited (CIL) has produced about 333 million tonnes (MTs) of coal ending first half of the current financial year posting a strong 11.3% yoy growth, nearly 34 MTs higher compared to same period FY 2023. 

Coal India shares are in focus today as the company's output for the month of September 2023 was 51.4 MTs, a 5.8 MTs jump or a growth of 12.6%. CIL produced 45.7 MTs during the same month last year, it reported.

Accordingly, CIL’s supplies to power sector rose to 294.8 million tonnes (MTs) ending first half of FY 2024, 1.8 MTs more than the 293 MT demand projected for this period. Compared to a high base of last fiscal’s same period, the volume increase was 9.7 MTs or a 3.4% growth. 

“We were given a supply target of 610 MTs to power sector for entire FY 2024. This is about 4% higher than the record level of 586.6 MTs that was supplied in FY’2023. We met the prorated demand of coal fired plants till September end and expect to meet the annual demand as well” said a senior official of CIL. 

CIL’s total supplies shot up to 360.7 MTs during H1 of FY 2024 ahead by 28.6 MTs with 8.6% growth.

After meeting the requirement of the power sector, CIL’s supplies to non-power sector during the first six months of FY 2024 peaked to 65.7 MTs clocking 40% growth. The increase in absolute terms was nearly 19 MTs compared to 46.8 MTs during the first half of FY 2023, the company said in a statement.