Coal India’s Production Jumps 13.2%; Offtake Rises 15.3%

Coal India’s Production Jumps 13.2%; Offtake Rises 15.3%

While CCL reported a jump in production of 22.5 per cent along with NCL and WCL reporting a rise in production of 7.8 per cent and 22.7 per cent.

FPJ Web DeskUpdated: Friday, September 01, 2023, 02:49 PM IST
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Coal India’s Production Jumps 13.2%; Offtake Rises 15.3% | File/ Representative image

The state-owned coal miner Coal India released the Provisional Production and Off-take Performance of the company, along with its subsidiary companies for the month of August 2023 through an exchange filing.

Coal India Limited's production in August 2023 saw a jump of 13.2 per cent at 52.3 Million tonnes over last year’s 46.2 MT, the company announced on Friday.

However, Coal India’s subsidiary company Eastern Coalfields Limited (ECL) posted a 12.2 per cent growth in the production of coal in August 2023 with the production at 2.7 MT against 2.4 MT in the same month last year. Another subsidiary company Bharat Coking Coal Limited (BCCL) produced 14.3 per cent more with the production at 3.1 MT against 2.7 MT. While CCL reported a jump in production of 22.5 per cent along with NCL and WCL reporting a rise in production of 7.8 per cent and 22.7 per cent. Even SECL and MCL saw a rise in production. However, NEC saw a fall in production of 43.3 per cent with no coal produced.

Further, Coal India’s offtake increased by 15.3 per cent to 59 MT in comparison to 51.2 MT in August 2022. All of the subsidiaries including NEC, MCL, SECL and WCL reported a jump of 68.2 per cent, 3.2 per cent, 24.6 per cent and 41.8 per cent respectively. ECL saw a rise of 4.7 per cent, BCCL saw a jump of 15.9 per cent, CCL rose 31.3 per cent while, NCL offtake hiked 41.8 per cent.

Coal India shares

The shares of Coal India on Friday afternoon at 2:43 pm IST were trading at Rs 236.75, up by 2.91 per cent.

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