Coal India Records Highest Increase In Production In 5 Months At 44.6 MTs

Coal India's production in five months rose by 44.6 million tonnes (MTs) in the ongoing fiscal. The company surpassed its own previous best of 44.5 MTs registered in FY16, which though was for the entire year, said in a stock exchange filing on Wednesday.

In comparison with last year's figure of 215 MTs on the same date, the progressive production of CIL touched 259.6 MTs as on 4 September 2022.

The company said that it may reach close to the apportioned H1 target of 306 MTs if considering the current pace of production and the mining areas are not excessively affected by heavy seasonal deluge in the month of September. 

Usually, the company in the second half of any given financial year records higher production of coal than its first half. Of the 700 MT target for the ongoing fiscal, the production split can be of around 44 per cent and 56 percent for the first and the second half respectively.

“What makes the achievement standout is that CIL accomplished the absolute growth of 44.6 MTs in production in only a span of 5 months and 4 days of the current fiscal whereas the earlier high of 44.5 MTs was for the full fiscal of 2015-16”, said a senior official of the company.

The company in the release said, "Pursuing 700 MT production target in FY’23 CIL began the chase with an asking growth rate of 12.4 per cent which, on the back of a strong output performance, slid down to 8 per cent as of now. All the subsidiary companies of CIL have posted growth over last year."