Coal India production rises 12.6% YoY to 51.4 MT in September
Coal India’s offtake in September increased by 12.6% to 55.1 MT from 48.9 MT in the corresponding month of the previous fiscal. Also Read: Maruti Suzuki posts highest ever monthly sales in September; hits 1 million-mark in H1FY24 Meanwhile, in the April-September period, the Maharatna PSU’s output increased by 11.3% to 332.9 MT from 299 MT, YoY.
The company’s production in H1FY24 was 42.67% of its full year production target of 780 MT. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The offtake during the first half of FY24 also increased by 8.6% to 360.7 MT as compared to 332 MT in the year-ago period, as per a regulatory filing by Coal India.
Among Coal India’s subsidiaries, Central Coalfields Ltd reported the highest production growth of 31.3% YoY to 5.5 MT, followed by South Eastern Coalfields Ltd with 21.6% YoY production growth in September. Also Read: UltraTech Cement Q2 sales rise 16% YoY to 26.69 MT The coal highest production during the month was registered by Mahanadi Coalfields Ltd at 15.1 MT.
Coal India accounts for over 80% of domestic coal output. Coal India shares have seen a decent growth this year.
CIL shares have risen 30% in the last three months, while the stock is up more than 38% in one year. On Friday, Coal India share price ended 1.55% higher at ₹295.15 apiece on the BSE."Exciting news! Mint is now on WhatsApp Channels
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