Coal India Aug output up 13% to 52.3 MT

Coal India (CIL) reported that there had been a 13.2% increase in its output in August 2023, totalling 52.3 million tonnes (MT) compared to the 46.2 MT from the previous year's August. The company conveyed that supplies had risen to 59 MT in August 2023, up from 51.2 MT during the same month the previous fiscal year, marking a 15.3% increase. During the current fiscal year, FY2023-24, the state-owned coal miner had produced 281.5 MT, indicating an 11.1% year-on-year growth. From April to August 2023, the total coal off-take had increased by 8%, reaching 305.5 MT, in comparison to the 283.1 MT in the corresponding period of the previous year. In August, the supplies to the power sector, which amounted to nearly 47 MT, experienced an almost 8% increase compared to the 43.6 MT in the same month of the preceding year. In contrast to the company's commitment of 1.44 MT per day, it was reported that they had supplied 1.515 MT per day to the power sector. Between April and August 2023, the coal-fired plants had received 248.7 MT of coal from CIL, which was approximately 2% higher than the 243.5 MT from a year ago. As of August 31, the coal inventory at CIL's pitheads stood at a comfortable 45.3 MT, which represented a 46% increase compared to the 31 MT recorded on the same date the previous year. Also read:  Real estate loans soar, reflecting strong demandTable Space to expand with Rs 10 billion investment