Coal India's subsidiary MCL supplies 143.4 MTs of coal this fiscal till December

11 Jan 2023 , 09:16 AM

Coal India’s (CIL) subsidiary Mahanadi Coalfields Limited (MCL) announced to the exchanges that it has surpassed the coal supplies of entire FY21, almost three months ahead of the current fiscal’s closure.

MCL’s coal off-take stood at 146.12 million tonnes (MTs) on January 5, overtaking the total supplies that the company recorded for full year of FY21. The feat was accomplished 85 days before FY’23 draws to a close. MCL’s supplies ending FY’21 were 146 MTs.

According to the filing, as on January 5, MCL’s growth in supplies was around 11% yoy and it supplied 132 MTs of coal year ago same period.

“MCL’s growth curve has been phenomenal in FY’23 in terms of production and supplies, the highest among all our subsidiaries” said a senior executive of CIL adding “this helped us in pushing up our overall output and off-take”.

The Odisha based coal company supplied 143.4 MTs of coal till December FY’23, the highest among CIL’s subsidiaries and 13.7 MTs ahead of the progressive target achieving 111% satisfaction. MCL’s supplies accounted for 28.2% of CIL’s total off-take of 507.8.

Against the contracted quantity of 81.5 MTs to its power sector customers, the actual supply from MCL was 102.7 MTs till December FY’23, resulting in 126% materialization.

At around 9:16 AM, Coal India was trading at Rs217.20 per share higher by 0.28% on the BSE.

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