Coal India Ltd, which is in constant focus for its production and offtake figures, has mined less in June and July than in April-May. Coal India’s production has come down by 6.44 per cent at 64.9 million tonnes in June-July, against 69.37 mt in April-May.
Similarly, offtake saw a dip of 5.29 per cent at 72.42 mt in June-July, compared with 76.47 mt in April-May.
Coal India, Chairman and Managing Director, S. Narsing Rao, said that the lower output in June-July is natural because of the monsoon. This time, a two-day power cut also hampered working schedules in the mines. A derailment near the Mughalsarai junction affected coal movement too.
However, supplies to the power sector in July rose 7.1 per cent, said Narsing Rao.
Despite the output drop in June-July, the company still recorded a near five per cent growth in both production and offtake in the first five months (April-July) of the financial year, over the previous year.
The picture looks bright when production and offtake in the first five months of this fiscal are compared with the previous same period. Coal India’s production during April-July 2012 increased by 5.32 per cent at 134.27 mt, against 127.48 mt in the five months last year. Similarly, offtake was up 4.98 per cent, at 149.03 mt this April-July, against 141.95 mt last year.
The gap between production and offtake is met through stocks. Coal India had stocks of 70.88 mt on April 1. This reduced to 55.79 mt as on July 31.
Coal India targets excavation of 464.10 mt in 2012-13. The miner’s output was recorded at 436 mt in 2011-12.