Coal India aims to reach close to its production target of 306 MT in H1FY23

State-owned CIL said it will reach close to its production target of 306 million tonnes (MT) in the first half of FY23, provided its mining areas are not extremely affected by heavy rains this month

State-owned CIL on Wednesday said it will reach close to its production target of 306 million tonnes (MT) in the first half of FY23, provided its mining areas are not extremely affected by heavy rains this month.

Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output.

"At the current pace of production...the company is hopeful of reaching close to the apportioned H1 target of 306 MT," CIL said.

Of the total production target of 700 MT for FY23, the output split is around 44 per cent in the first half and 56 per cent in the second half, the company said in a statement.

Coal India's production increased by 44.6 million tonnes in just five months and four days of the ongoing fiscal (as of September 4).

CIL's progressive production touched 259.6 MT as on 4 September, compared to 215 MT during the same period date last year, the statement said.

The public sector unit began to chase the production output with growth rate of 12.4 per cent which, on the back of a strong output performance, fell to 8 per cent at present.

CIL usually produces higher volume of coal during the second half of the financial year than in the first half.