 "Coal India")
State-owned Coal India on Friday said its coal production increased 29 per cent year-on-year to a record 159.8 million tonne (MT) in April-June this fiscal.
It had produced 124 MT coal in the year-ago period, Coal India Limited (CIL) said in a statement.
"CIL ended April-June FY23 capping a historic high of 29 per cent. CIL produced 159.8 MT of coal, which is 35.8 MT more than the 124 MT in April-June FY22. All the coal companies of CIL have registered growth," the company said.
Such growth was never witnessed in any Q1 since CIL's inception. The company's first-quarter production surge of nearly 36 MTs surpassed the entire annual increase of 26.4 MT of FY22, a senior company official said in the statement.
Increased production enables better stock build-up, it added.
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With the coal demand from power plants reaching a higher pitch, CIL's supplies to the power sector reached a new high of 153.2 MT during the quarter, registering a strong growth of 19.8 per cent. The expansion in absolute terms was 25.3 MT over 127.9 MT of last fiscal's Q1.
CIL on an average supplied 1.684 MT of coal per day to the power sector in June 2022 quarter compared to a daily requirement of 1.650 MT.
In June, supplies to coal-fired plants have gone up to 1.713 MT per day against the projected requirement of 1.6 MT.
CIL's offtake to the power sector witnessed a 27 per cent growth to 51.4 MT compared to 40.4 MT in June 2021.
Higher supplies during the month resulted in coal stock accretion to the tune of 77,000 tonnes per day at the power plants end.
The total coal off-take during the quarter rose nearly 11 per cent to 177.6 MT against 160.3 MT a year ago.
CIL's total off-take in June grew 15.4 per cent to 59 MT compared to 51.2 MT in the year-ago period.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
