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Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last year. For the current financial year, the overall production for Coal India stood at 610.3 MT, which is 78.2% of its full-year production target of 780 MT.
 
Majority of the growth in production came from Eastern Coalfields and Central Coalfields. Mahanadi Coalfields, which has the highest production share among Coal India’s subsidiaries saw production rise by 8.1% from last year. On a year-to-date basis, barring Mahanadi Coalfields, Northern Coalfields and North-Eastern Coalfields, all of Coal India’s subsidiaries have grown between 12% to 30%.
 
For the year so far, Coal India’s production has grown by 11% year-on-year.
 
Coal India’s offtake in January grew by 4.8% to 67.6 MT, while on a year-to-date basis, offtake has grown by 8.3% to 619.5 MT.
 
Shares of Coal India are trading 0.5% lower at ₹404.30. The stock is trading close to its all-time high. 2023 was the best year in terms of share price returns for the stock, when shares went up by over 60%.
Source: CNBCTV18


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