Coal India Records 8% Surge In Q1 Production

Coal India Limited has reported an 8% rise in coal production for June quarter, with production hitting 189.3 million tonnes (MTs).

What Happened: The company in an exchange filing on Monday stated, “Staying ahead of the progressive target, CIL raised its coal production to 189.3 million tonnes (MTs) in the first quarter ending, June. This was 13.8 million tonnes more in volume terms compared to the corresponding quarter of FY 2024 posting nearly 8% growth.”

In June 2024 alone, CIL’s production saw a 9% increase, reaching 63 million tonnes, in comparison to the same period in the previous year. The company’s total supplies also saw a 6% year-on-year growth, hitting 198.4 million tonnes during the period from April to June 2024.

See Also: Mahindra And Mahindra Total Sales Grow 9.17% To 1.16 Lakh Units In June

The company reported a 4% growth in supplies to coal-fired plants, reaching 160 million tonnes during the quarter. Supplies to the non-power sector saw a 16% surge, reaching a record high for Q1 of any year to date at 38.4 MTs.

At the end of June 30, the PSU reported a 40% increase in coal inventory at its pitheads, standing at 81.5 million tonnes, providing a sufficient buffer to meet any sudden surge in demand.

Read Next: Reliance Could Add As Much As ₹8.34 Lakh Cr To Mcap Says Morgan Stanley


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