In a regulatory filing, Coal India disclosed the off-take and provisional performance of the company and its subsidiary companies for the months of April through February 2024 and May 2024.
In May 2024, state-owned Coal India and its subsidiaries produced 64.4 million metric tons of coal, up 7.5 per cent from 59.9 million metric tons in the same month the previous year.
Additionally, it declared that it produced 126.2 million metric tons of coal in April and May, 7.4 per cent more than it did in the same period the previous year (11.7 million metric tons).
Coal Offtake
In the meantime, the amount of coal offtake rose 7.2 per cent to 68.2 million metric tons in May, compared to 63.7 million metric tons in the same month the previous year. Over the April–May period, the total amount of coal offtake rose to 132.3 MT, a 5 per cent increase from 125.9 MT in the corresponding period of the previous fiscal year.
With a reported production of 61.8 million metric tons in April, CIL reported a 7.3 per cent year-over-year increase. The company's coal offtake in April was 64.3 MT, up 3.2 per cent from 62.3 MT in the same month last year. More than 80 per cent of the coal produced in the country comes from CIL
Coal India Earnings
CIL released its fiscal fourth quarter earnings earlier this month, showing a 26% increase in profit from Rs 6,869.5 crore to Rs 8,640.5 crore during the same period last year.
Even though CIL's operating revenue decreased by almost 2 per cent to Rs 37,410.4 crore in the reviewed quarter compared to Rs 38,152.3 crore in the same quarter the previous year, the company's bottom line increased.
Coal India's share price was around Rs 492 per share at closing time on May 31, 2024.
