Coal India's Q1 production jumps 8% to 189 MT

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Coal India's Q1 production jumps 8% to 189 MT

Mid Corporate 02 Jul 2024 12:56 PM IST PTI

Coal production at state-owned CIL increased by 8% in the first quarter of the current fiscal year to 189.3 million tonnes (MT). The company produced 175.5 MT of coal during the prior fiscal year's April-June quarter.

Coal India Ltd (CIL) said, "Moving past the target of 189.2 MT, CIL achieved 100% satisfaction in Q1 of the current fiscal year." While all seven of the coal behemoth's producing subsidiaries showed positive growth, five exceeded expectations. The company's June production climbed by 9% to 63 MT, compared to 58 MT in June FY24.

CIL's total supplies climbed by 6% year on year to 198.4 MT between April and June FY25, driven by significant production growth and higher coal loading. The increase in absolute numbers was 11.4 MT, with a high base of 187 MT.

The country's demand for power is rising, and in the first quarter of FY25, CIL's supply to coal-fired facilities increased by 4% to 160 MT. During the same period in FY24, it was 154 MT.

On average, CIL loaded 325.7 rakes per day to the power sector during Q1 FY25. This was 19 more rakes per day compared to 306.7 rakes CIL loaded in the year-ago period. This includes loading from CIL's sidings, private washeries and goods sheds. One rake has approximately 4,000 tonnes of coal.

Coal inventory at CIL's pitheads stood at 81.5 MT at the end of the first quarter of FY25, 40% higher than the year-ago period. This provides sufficient buffer to meet any sudden gush in demand. CIL accounts for over 80% of the domestic coal output.

Also Read : Coal India's capex increased 6.5% to ₹19,840 cr in FY24 Steel maker Jai Balaji shows ₹273cr net profit in Q4FY'24

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Coal India's Q1 production jumps 8% to 189 MT

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