Coal India records 9.5% y-o-y growth in May output to 60 MT

Coal India Limited has registered a 9.5% y-o-y growth in its monthly production at 60 MT in May 2023. The company has reported production of 54.70 MT of coal in the same month previous year.

The company said that its May production generally comes between 40-48 MT, this output surge in May was substantial. All of the miner’s subsidiaries have listed positive growth.

Progressive output in April-May 2023 was 117.5 MT, up 8.6% from 108.2 MT the previous year.

Total supplies increased to a healthy level of 63.7 MT in May 2023, a 4.1% increase from 61.2 MT in May 2022.

The coal offtake for April-May 2023 was 126 MT, representing a 6.2% year-on-year increase over the previous year’s figure of 118.6 MT.

CIL’s reported that its overburden (OBR) removal increased sharply to 178.2 million cubic metres (mcum) in May 2023. This represents a strong 35% increase over May 2022, with all subsidiaries achieving growth. CIL excavated 346 mcum of OBR during April-May FY24, representing a 32% increase.

CIL reported coal inventory of 61 MT at its pitheads. Out of which, 15 MT of coal is at private washeries, goods sheds, captive mines, ports, and transit accounts, there is a sufficient coal buffer stock of around 111 MT.

At around 9.37 AM, Coal India was trading 0.35% lower at Rs 229.55 against the previous close of Rs 230.35 on NSE.

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