Tuesday, July 16, 2024
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May 2024 Saw a 7.5% Increase in Coal Production in India and a 7.2% Increase in Offtake

In May 2024, state-owned Coal India and its subsidiaries produced 64.4 million tons of coal, up 7.5% from 59.9 million tons in the same month the previous year. Additionally, it declared that it produced 126.2 million tons of coal in April and May, 7.4% more than it did in the same period the previous year (11.7 million tons).

In the meantime, the amount of coal taken in rose 7.2% to 68.2 million tons in May compared to 63.7 million 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% increase from 125.9 MT in the corresponding period of the previous fiscal year.

With a reported production of 61.8 million tonnes in April, CIL reported a 7.3% year-over-year increase. The company’s coal offtake in April was 64.3 MT, up 3.2% from 62.3 MT in the same month last year.

More than 80% of the coal produced in the country comes from CIL.
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% to Rs 37,410.4 crore in the reviewed quarter compared to Rs 38,152.3 crore in the same quarter last year, the company’s bottom line increased.

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