Nagpur: Public sector undertaking Western Coalfields Ltd (WCL) has exceeded its target of coal production of 10.33 million tonnes by producing a record 10.79 million tonnes in the first quarter of this fiscal.
“The WCL has exceeded target of not only coal production, but of overburden removal, off take and productivity and has done extremely well on other important front like estimated profit in the first quarter (April-June),” WCL Chairman and Managing Director D C Garg told PTI.
The company recorded a growth of 8.8% over last year’s 9.92 million tonnes.
He said the estimated profit of WCL is to the tune of Rs264.60 crore, thereby showing a positive variation of Rs98.37 crore over the budgeted estimate of Rs166.23 crore. The increase was of 65% over the same period of last year’s Rs159.98 crore.
The productivity of first quarter is 2.56 tonnes which also registers a growth of 6.2 per cent.
Coal offtake during the same period was 11.36 million tonnes which is 107% achievement of the target of 10.61 million tonnes, Garg said adding achievement of overburden removal has been 103.8% of target, actual being 32.38 million cubic metres, against target of 31.19 million cubic metres.
Garg said in this quarter, the coal stock inventory at pit heads came down from 32.95 lakh tonnes as on April 1, 2008 to 27.24 lakh tonnes.
WCL has been entrusted to produce five per cent more than its annual plan target of 43.05 million tonnes during the current fiscal, he added.