Coal India Limited (CIL) which accounts for around 80% of India's domestic coal output announced that its production from April to November of this fiscal year has reached 412.6 million tonnes. The company expressed confidence in surpassing the targeted output for the current fiscal. CIL targets production of around 700 million tonnes in the current financial year.
The production by CIL has increased by 17% and for the same period in the last fiscal, the company reported a production of 353.4 million tonnes. The company needs to produce around 287.4 million
tonnes more in the remaining four months of the current fiscal, to achieve the target of 700 million tonnes. Talking about the targeted production, a senior official of the CIL said that surpassing the target is achievable. "With the strong augmentation in production so far and overburden removal displaying robust growth that helps in faster extraction of coal in the coming months, we feel confident of surpassing the fiscal's production target. Also, during Q4 production steps up into a higher trajectory," the official added. Last month, the PSU produced 60.7 million tonnes of coal which was 12.8% more than the production of the corresponding fiscal of last year.
The supply of coal to power plants by the company also registered a growth of 11.8% and it supplied 380.7 million tonnes during the April-November period. The company also informed that the total takeoff of all coal-consuming sectors was 445 million tonnes till November and total coal stock at the CIL's pithead by the end of November was 28.5 million tonnes.
The data came against the backdrop of dismal growth numbers of the eight core industries of India which grew by just 0.1% in October 2022. According to the government, amongst the core industries, the performance of coal was still better as it grew 3.6% in October against the year-ago month.
