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Coal India fell 1.86% to Rs 189.70 after the company announced its coal production figures for January 2020.
CIL’s production stood at 54.17 million tonnes (MTs) till 27 January 2020, was ahead by 5.23 MTs in absolute terms on a like-to-like comparison of last year, registering a growth of 10.7% – the first double digit growth so far during the current fiscal. CIL as whole has been averaging close to 2 MTs per day coal output during the month.
“The production spurt came largely on back of Mahanadi Coalfields and South Eastern Coalfields” said an official of the company adding “by the end of January production is likely to be up by another 8 MTs.”
Coal off-take at 48.07 MTs, as of 27 January 2020, registered a growth of 6.2% compared to same date last January, the increase in volume terms being 2.82 MTs.
There is no shortage of coal in the power plants, with a total of 65.66 MT currently available in the system, of which stock at CIL’s pitheads is 31.41 MT. Whereas, thermal power plants ofthe country were adequately stocked with 34.25 MT of coal (as of January 26, 2020) sufficient for 19 days consumption. The current level of coal stock at the power plants is 14.89 MTs more than that of a year ago period. Last year same date it was 19.36 MTs.
“Better management of supply logistics ensured that coal stock at various power stations was maintained throughout the year and the number of critical power plants never touched double digit during 20L9-20 as per CEA” said the stated official. After almost 3 years, the number of NTPC plants and NTPC/JVS having super critical stock was down to zero.
Coal India produces and markets coal and coal products. As of 30 September 2019, the Government of India held 69.05% stake in the company.
The company’s consolidated net profit rose 14.2% to Rs 3,522.70 crore on 6.9% decline in net sales to Rs 18,986.50 crore in Q2 September 2019 over Q2 September 2018.