Coal India has finally managed to post nearly 1 per cent production growth in 2011-12. According to sources, the company is headed to end this fiscal with a production of 435-436 million tonne.
The ‘growth' came as a reprieve to the CIL management, which was subject to severe criticism for stagnating output, which was 431 mt in 2010-11.
When compared to production, coal off-take has moved up at a higher pace of 2.3 per cent from 424 mt to 434 mt, indicating higher supplies.
On the flipside, inadequate logistics options have left the company piling up on its huge pit-head stock. According to available estimates, CIL is expected to end the fiscal with 71 mt inventory, up by one mt.
Late show
Incidentally, CIL ended the April-December period of this fiscal 9 million tonne behind the production during the corresponding period. The decline was largely attributed to heavy rains and the resulting production loss during August-October period.
Though production was growing on a month to month basis since November 2011, the gap was finally bridged in February when production grew by 17 per cent on a month-to-month basis.