BackCoal India production rises 12.6% YoY to 51.4 MT in September
In the April-September period, Coal India’s output increased by 11.3% to 332.9 MT from 299 MT, YoY. The company’s production in H1FY24 was 42.67% of its full year production target of 780 MT.
PremiumCoal India Ltd, the state-run largest coal producer, on Monday reported a 12.6% year-on-year (YoY) rise in coal production to 51.4 million tonnes (MT) in the month of September. The company had produced 45.7 MT of coal in the year-ago period.
Coal India’s offtake in September increased by 12.6% to 55.1 MT from 48.9 MT in the corresponding month of the previous fiscal.
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Meanwhile, in the April-September period, the Maharatna PSU’s output increased by 11.3% to 332.9 MT from 299 MT, YoY.
The company’s production in H1FY24 was 42.67% of its full year production target of 780 MT.
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The offtake during the first half of FY24 also increased by 8.6% to 360.7 MT as compared to 332 MT in the year-ago period, as per a regulatory filing by Coal India.
Among Coal India’s subsidiaries, Central Coalfields Ltd reported the highest production growth of 31.3% YoY to 5.5 MT, followed by South Eastern Coalfields Ltd with 21.6% YoY production growth in September.
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The coal highest production during the month was registered by Mahanadi Coalfields Ltd at 15.1 MT.
Coal India accounts for over 80% of domestic coal output.
Coal India shares have seen a decent growth this year. CIL shares have risen 30% in the last three months, while the stock is up more than 38% in one year.
On Friday, Coal India share price ended 1.55% higher at ₹295.15 apiece on the BSE.
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