Coal India records 17Percentage growth in production so far in FY23

8 Dec 2022 , 01:35 AM

Coal Indias CIL progressive production of 4126 million tonnes MTs during April-November22 evinced a sharp y-o-y increase of 592 MTs with a strong growth of around 17Percentage Production was 3534 MTs for the comparable period last year

CIL has achieved 997Percentage of the progressive production target and brought down the annual asking growth rate by almost half to 67Percentage The company began FY23 with an asking rate of 124Percentage in a bid to edge past the years output target of 700 MTs

The state owned coal miner has to produce 2874 MTs of coal during the remaining four months of the current fiscal to reach its FY23 output target

This is achievable said a senior official of CIL adding with strong augmentation in production so far and overburden removal displaying robust growth that helps in faster extraction of coal in the coming months we feel confident of surpassing the fiscals production target Also during Q4 production steps up into higher trajectory

For the month of November22 at 607 MTs CILs production achieved 100Percentage target satisfaction clocking nearly 13Percentage growth over 538 MTs of last years November Increase was 69 MTs in absolute terms

Sequentially production has risen by 147Percentage in November22 over 529 MTs of October22 the volume increasing being 78 MTs

Boosting CILs prospects of ramping up future production overburden removal surged ahead by 18Percentage ending November22 CIL excavated 9845 MCuM of topsoil till November22 against 835 MCuM for comparable period of FY22 OBR growth for the month was 284Percentage

CILs supplies to power plants went up by 395 MTs to 3807 MTs during AprilNovember22 posting 116Percentage growth Supplies were 3412 MTs year ago same period

Total coal off-take to all consuming sectors was 445 MTs till November FY23 with a jump of nearly 24 MTs registering y-o-y growth of 57Percentage

Coal stock at CILs pitheads at the end November stood at 285 MTs