CIL gets revenue of over Rs 1.52 trillion from coal sales in FY'22

29 Jul 2022 CW Team

Coal India Ltd has earned revenue of over Rs 1.52 trillion from coal sales in financial year 2021-22, selling 661.89 million tonnes of the fuel. Coal Minister Prahlad Joshi further told parliament this week that the ‘Mahartana’ company has garnered Rs 294 billion by selling 177.59 mt of coal in the April-June period of the ongoing financial year.

The revenue figure for the first quarter of FY'23 is provisional, it added.

While in FY'21, CIL earned Rs 1.26 trillion from sale of coal, in FY'20 the figure stood at Rs 1.35 trillion.

In order to increase the revenues of the public sector companies operating in the coal space, the government has permitted them to diversify into other sectors, including renewable energy.

The captive mine owners, other than atomic minerals, can sell up to 50 per cent of their annual mineral, including coal, in the open market after meeting the requirement of their end-use plants. Moreover, coal production is being increased continuously, the minister said.

Coal India accounts for over 80 per cent of domestic coal output. The company is eyeing one billion tonnes of coal production by FY'25.

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