Coal India’s Q1FY24 production grows 10% y-o-y

3 Jul 2023 , 12:26 PM

Coal India Ltd (CIL) appears to be on track to meet its target of producing around 780 million tonnes (MT) of coal during the current fiscal year. The company has logged 10% y-o-y growth in production during the first quarter of FY24 at around 175.5 million tonnes (MT).

Volume expansion was 15.7 MT, which is significant given the high base of 159.8 MT during the same period last year. According to a press release issued by the company, June production increased by more than 12% to 58 MT, up from 51.6 MT in June 2022.

According to a senior company executive, the output could have been even higher if heavy rains did not disturb the work across its mining areas in the last week of June.

CIL’s overburden removal (OBR) has been progressing steadily, maintaining the projected pace by excavating 497.5 million cubic meters (M.CuM) of OB between April and June 2023, registering a growth of about 30% over the previous comparative period. 

Total supplies increased by more than 5% during the quarter ended June 2023, reaching 187 MT versus 177.5 MT in Q1 FY22. Non-power sector consumers continued to receive more coal in the current fiscal year, with 33.4 MT received at the end of the first quarter, a 34% increase over the previous corresponding period, as per the company’s release.

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