During the month, Coal India’s five subsidiaries out of eight reported a decline in production in the range of 8 per cent to 28 per cent on YoY basis.
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State-owned Coal India Ltd (CIL) on Monday announced that it has recorded coal production of 46.1 million tonnes (MTs) in the month of August, reporting a decline of 11.9 per cent in comparison to 52.3 MT posted during the same period last year. The drop was due to monsoons impacting production at its coalfields.
During the month, Coal India’s five subsidiaries out of eight reported a decline in production in the range of 8 per cent to 28 per cent on YoY basis.
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With this, the total output during April- August 2024 period stood at 290.4 MT, up 3.2 per cent as against 281.5 MT recorded during the same period of previous year.
Earlier in February, Coal India’s Chairman and Managing Director (CMD) PM Prasad had said that it has set a production target of 838 MT for FY25. While earlier, the target for Coal India was 850 MT. But with the huge coal stocks at thermal power plants (TPPs), the ministry had revised the production target to 838 MT for FY25. However, the production recorded during August 2024 is just 34 per cent of the full-year target.
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Meanwhile, coal offtake during the period stood at 52.1 MT, posting a decline of 11.8 per cent as against 59.1 MT during the corresponding period of previous year. For the full year, coal offtake came in at 310.0 MT, up 1.4 per cent from 305.6 MT on YoY basis.
Coal India had recorded coal production of 189.3 million tonnes (MTs) in the first quarter ending June FY2025, posting a growth of 7.9 per cent in comparison to 175.5 posted during the same period last year.
In August, Coal India had released its Q1 earnings report with a 4 per cent rise in its consolidated net profit in the first quarter of the financial year 2024-25 at Rs 10,943.55 crore. On a sequential basis, the net profit increased by 26.6 per cent. The company’s revenue from operations increased marginally by 1.3 per cent to Rs 36,464.61 crore against Rs 35,983.21 crore in the same period the previous fiscal.
