State-run miner Coal India on Tuesday said its production fell marginally by 1 per cent year-on-year to 50.9 million tonnes (mt) in September.
The company, the world’s largest coal producer, witnessed a 1.4 per cent year-on-year (y-o-y) drop in coal offtake to 54.4 mt in the last month, according to a stock exchange filing.
Heavy rainfall affected coal productions for Bharat Coking Coal (BCCL), Central Coalfields (CCL) and Northern Coalfields (NCL) for the month of September. For South Eastern Coalfields (SECL), production impacted due to land, industry sources told businessline.
In the first half of the current financial year, Coal India’s output stood at 341.3 mt, which was up 2.5 per cent y-o-y over the same period last year. Coal offtake during this period witnessed a growth of 1.7 per cent y-o-y at 366.6 mt.
For BCCL, CCL and NCL, productions during September were down by 15.2 per cent, 8.3 per cent and 5.7 per cent y-o-y, respectively. NCL’s output for the first half of the fiscal declined by 2.8 y-o-y as well. Production for Northern Coalfields was hit as rainfall was almost double during this monsoon season compared to last year, the sources informed.
The coal behemoth’s total production fell 11.9 per cent y-o-y to 46.1 mt in August, also due to heavy rainfall.
Notably, Coal India’s production target for FY25 is at 838 mt. The company’s scrip ended the day at ₹508.40 apiece on BSE, which was down 0.33 per cent from the previous close.