Coal India's total off-take chalks yet another record

In what had turned out to be a high performance FY'22 for Coal India Limited (CIL) with a flurry of previous records bettered, the state-owned coal miner chalked out yet another high in total coal supplies at 608.15 million tonnes (MTs) as of 4th March.

CIL moved past the previous highest coal off-take of 608.14 MTs achieved in FY'19 nearly four weeks before the current fiscal draws to a close.

Coal India Chief Pramod Agrawal pointed out the "sustained efforts and inspired performance" of CIL's subsidiaries and has written to them "to end FY'22 on a sound note scaling even more highs".

Almost all CIL subsidiaries are ahead in their respective coal off-take numbers over corresponding period last year.

CIL is concentrating its efforts to increase its supplies further in a bid to touch 670 MTs off-take mark in FY'22.

CIL had pipped the 575 MT total coal despatch of FY'21 on 16th February itself. Offtake ending FY'20 was around 580 MTs.

"CIL's current off-take is averaging a little over 2 MTs per day and is expected to go up higher as the month progresses. We are hopeful of reaching 670 MTs if the demand holds" said a senior executive of the company.

Shares of Coal India Limited was last trading in BSE at Rs. 181.00 as compared to the previous close of Rs. 188.90. The total number of shares traded during the day was 1382200 in over 11281 trades.

The stock hit an intraday high of Rs. 191.00 and intraday low of 180.50. The net turnover during the day was Rs. 256473014.00.

Source : Equity Bulls

Keywords

CoalIndia INE522F01014 Mining CoalSupplies Offtake