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Coal India’s Q3 production grows 6.3%

Supplies in the quarter under review grew 9.2% y-o-y at 154.6 MT, compared to 141.6 MT in the third quarter last fiscal. The q-o-q growth was 15% with offtakes at 134.3 MT during the July-September quarter this fiscal.

Coal India (CIL) recorded a 6.3% year-on-year growth in production at 156.8 million tonne (MT) in the third quarter of the current fiscal, while its quarter-on-quarter growth was 36.4% over the production of 115 MT during the second quarter.

Supplies in the quarter under review grew 9.2% y-o-y at 154.6 MT, compared to 141.6 MT in the third quarter last fiscal. The q-o-q growth was 15% with offtakes at 134.3 MT during the July-September quarter this fiscal.

“With non-power sector consumers lifting increased quantities of coal in Q3, CIL could record a robust 43.4% growth in supplies to this sector,” a senior CIL official said. He said that for the October-December period, CIL supplied 36.62 MT to non-power consumers as compared to 25.53 MT in the same period last fiscal.

The demand for coal from the power sector is yet to crystallise fully, but despite the tepid demand there was a nominal growth of 1.5% in supplies to power plants in the third quarter. CIL’s offtake from the power sector was 117.8 MT during the October-December period against 116.07 MT last year.

The company’s overburden removal clocked a growth of 17.6% at 366.23 million cubic metre in the quarter, clearing the way for easier future production.
Source: Financial Express

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