State-run miner Coal India has registered an 11 per cent year-on-year growth in coal production to 531.9 million tonnes (mt) in the first nine months of the current financial year from 479 mt in the same period last year, as all its coal-producing subsidiaries witnessed higher outputs.

Among the seven coal-producing subsidiaries of CIL, Eastern Coalfield Ltd (ECL) posted the highest production growth of 26.3 per cent y-o-y during April-December 2023. South Eastern Coalfields Ltd (SECL) and Bharat Coking Coal Ltd registered 15.5 per cent and 15.1 per cent y-o-y production growth during the period under review, according to a stock exchange filing of Coal India.

Notably, for Coal India, the world’s largest coal miner, output target is 780 mt for the current financial year.

For December, 2023, CIL’s production stood at 71.9 million tonnes, which was 8.2 per cent higher y-o-y. ECL and Central Coalfields Ltd (CCL) registered output growths of 46.4 per cent and 10.3 per cent, respectively, during the last month, while SECL witnessed a 0.9 per cent fall in its production.

The coal off-take was higher by 6.1 per cent y-o-y at 66.6 mt in December 2023 compared with 62.7 mt for December, 2022, according to the stock exchange filing.

Coal off-take increased by 8.7 per cent year-on-year to 552 mt in the first nine months of the current financial year from 507.8 mt in the same period last year.

In a statement, Coal India said it supplied an all-time high volume of 98 million tonnes to non-regulated sector (NRS) consumers till December of the current financial year, even as its supplies to the country’s power sector exceeded the projected commitment.

“With increased production and maximized supplies through all modes of despatch, CIL’s offtake to power plants of the country rose to 454 MTs during April-December of FY2024. This is 8 MTs higher than the committed quantity of 446 MTs for the period,” the statement said, adding that compared to 433 million tonnes supplies of April-December of FY23 the increase was 21 MTs with around 5 per cent growth.

Coal stocks at domestic coal-based power plants surged to 32 million tonnes ending December 2023, about 5.6 per cent more on a comparative basis of the last financial year.

“Coal stock at CIL’s pitheads at around 50 MTs as of December FY2024 end was 56 per cent higher than the inventory of 32 MTs of the same period last year, providing a comfortable buffer against any sudden demand surge,” the coal behemoth added.

On Tuesday, CIL’s scrip on BSE ended the day at ₹392.90 apiece, up 2.91% from the previous close.

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