BackCoal India June quarter output hits record
With the coal demand from power plants reaching a higher pitch, CIL’s supplies to power sector peaked at a new high of 153.2 mt during the quarter
PremiumCoal India Ltd (CIL), the world’s biggest producer of the fossil fuel, posted record production in the June quarter as it sought to meet strong demand from power plants amid an unprecedented heatwave.
The state-run miner produced 159.8 million tonnes (MTs) of coal in the three months ended June, a nearly 29% rise from the 124 MTs produced a year earlier. All units of CIL recorded higher production in Q1.
“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 FY22," according to a senior official at CIL.
The surge in output in the June quarter has reduced the asking growth rate for this fiscal to 8.3%. CIL had earlier placed an asking growth rate of 12.4% to achieve its production aim of 700 MTs for FY23.
In June, when the country faced an extremely hot summer, CIL produced 51.6 MTs, up 29% from 40 MTs a year earlier.
Supplies to the power sector scaled a new high of 153.2 MTs during the fiscal first quarter, an increase of 19.8% from 127.9 MTs a year earlier.
Coal offtake, or the amount of supplies from coal pitheads, totalled 177.6 MTs during the quarter, a nearly 11% increase from the 160.3 MTs offtake of a year earlier.
In June, supplies to coal-fired plants jumped to 1.713 MTs per day against a projected requirement of 1.6 MTs. This led to 107% materialization.
CIL’s offtake to the power sector during the month jumped 27% to 51.4 MTs from 40.4 MTs in June 2021. Higher supplies during the month resulted in coal stock accretion of 77,000 tons per day at power plants.
CIL’s total offtake in June grew 15.4% to 59 MTs from 51.2 MTs last year.
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