Coal India’s production up by 44.6 MTs in five months

NEW DELHI: Coal India’s (CIL) production in the current fiscal as of 4 September rose by 44.6 million tonne, a record high, the company said in a stock exchange filing on Wednesday. This eclipses the previous best of 44.5 million tonne (MT) registered in FY16, which though was for the entire year.

CIL’s progressive production touched 259.6 MTs as on 4 September compared with 215 MTs same date last year.

The company said at the current pace of production, if CIL’s mining areas were not excessively affected by heavy seasonal deluge in September, the company was hopeful of reaching close to the apportioned H1 target of 306 MTs.

“Pursuing 700 MT production target for FY23, CIL began the chase with an asking growth rate of 12.4% which, on the back of a strong output performance, slid down to 8% as of now. All the subsidiary companies of CIL have posted growth over last year,” the company said in the release.

Coal India typically produces more coal during the second half of the financial year than the first. Of the 700 MT target of FY23, the production split is around 44% for H1 and 56% for H2.