In a sign of robust performance, Coal India reported double-digit growth in coal production and offtake for the April-February period of FY24.
The coal behemoth said it produced 685 million tonnes of coal during the nine months, a rise of 10.5% from the previous fiscal.
Offtake also saw an upward trend, with the company supplying 684.7 million tonnes of coal, an increase of 8.6% against last year.
Break-up data revealed that production in February alone grew by 8.72% to 74.8 million tonnes yearly. Similarly, offtake jumped 12% to 65.3 million tonnes during the month.
While continuing its growth streak, the Coal India chairman had hinted at lowering the output target for the next fiscal to 838 million tonnes due to bulging stockpile levels.
Still, the state-owned miner’s ability to ramp up coal evacuation during winter months bodes well for energy security and industrial demand recovery.
