On back of record output growth in absolute terms
Coal India announced that in a historical high, the company's production increased by 44.6 million tonnes (MTs) in just 5 months and 4 days of the ongoing fiscal, as of 4 September eclipsing the previous best of 44.5 MTs registered in FY'16, which though was for the entire year.The record milestone was achieved when CIL's progressive production touched 259.6 MTs on 4 September'22 of the current fiscal, compared to 215 MTs same date last year.
Pursuing 700 MT production target in FY'23 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.
CIL usually produces higher volume of coal during the second half of the financial year than in the first half. Of the 700 MT target of FY'23 the production split is around 44% for the H1 and 56% for the H2.
At the current pace of production, if CIL's mining areas are not excessively affected by heavy seasonal deluge in September, the company is hopeful of reaching close to the apportioned H1 target of 306 MTs.
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