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Coal India Ltd. has maintained strong operational growth on the back of increased production and higher rake loading, buoyed by high domestic coal demand and continued elevated international coal prices.
In Q2 FY23, production / offtake was 139.3 million tonne / 154.5 mnte, up 5.1%/10.7% YoY, respectively, while similar figures for H1 FY23 were 299 mnte / 332 mnte, up 19.7% YoY/7.8% YoY, respectively.
Production has already increased by a record 49.2 mnte YoY in H1 FY23, almost double the YoY increase in the entire FY22 (26.4 mnte). With this strong performance, growth rate now required to reach 700 mnte of production in FY23 reduces to 7.6% in H2 FY23 (from 12.4% at the start of FY23).
Coal India supplied 285.5 mnte of coal to the power sector (up 16.8% YoY), comprising 86% of the total offtake, much higher than FY22 (81.6%).
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