Comments
State-run miner Coal India on Monday said its production fell 11.9 per cent year-on-year to 46.1 million tonnes in August. The company also witnessed an 11.8 per cent y-o-y drop in coal offtake to 52.1 mt in the last month.
Heavy rainfall affected coal production in August this year. Coal production and offtake stood at 52.3 mt and 59.1 mt, respectively, in August 2023.
Among the subsidiaries of Coal India, South Eastern Coalfields registered the highest year-on-year decline in production and offtake. Heavy rainfall in Chhattisgarh and Madhya Pradesh disrupted operations last month, according to industry sources.
In the first five months of the current financial year, CIL’s output was at 290.4 mt, which was up 3.2 per cent y-o-y over the same period last year. Offtake during this period grew 1.4 per cent y-o-y at 310 mt.
Coal India’s production target for FY25 is estimated at 838 mt. The coal miner is expected to ramp up its production in the third and fourth quarters to reach close to the production target, industry sources said.
Coal India scrips ended the day at Rs 520.70 apiece on BSE, down 0.82 per cent from the previous close.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.