Representative Image
State-owned CIL on Wednesday said it will reach close to its production target of 306 million tonnes (MT) in the first half of FY23, provided its mining areas are not extremely affected by heavy rains this month.
Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output.
"At the current pace of production...the company is hopeful of reaching close to the apportioned H1 target of 306 MT," CIL said.
Of the total production target of 700 MT for FY23, the output split is around 44 per cent in the first half and 56 per cent in the second half, the company said in a statement.
Coal India's production increased by 44.6 million tonnes in just five months and four days of the ongoing fiscal (as of September 4).
CIL's progressive production touched 259.6 MT as on 4 September, compared to 215 MT during the same period date last year, the statement said.
The public sector unit began to chase the production output with growth rate of 12.4 per cent which, on the back of a strong output performance, fell to 8 per cent at present.
CIL usually produces higher volume of coal during the second half of the financial year than in the first half.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Wed, September 07 2022. 16:57 IST