Coal India offtake rises 33 per cent to 160 MT in the first quarter
Coal India Limited April-June offtake hits 7 MT higher at around 160 MT, gaining a 4.5%
growth compared to the April-June quarter in Fiscal year 20 when the country is still
struggling with Covid-19.
Even as coal demand from the power sector is not steady yet, Coal India Limited
(CIL) overall coal offtake has increased to 160.4 million tonnes (MT) during the first quarter
of the current fiscal against 120.8 MT during the last fiscal, representing a 33% growth. Coal
India Limited April-June offtake hits 7 MT higher at around 160 MT, gaining a 4.5% growth
compared to the April-June quarter in Fiscal year 20 when the country was still struggling
with Covid-19. After an encouraging spirit in April, coal-fired electricity generation slowed
down in May. But it started to speed up during the last ten days of June again,
a CIL executive said.
CIL supplied 126.3 MT of coal to the power sector in the first quarter of this fiscal, a growth
of 34% compared to 94 MT of a similar quarter in the last fiscal. The PSU miner also shared
growth of 5.6% compared to the covid-free first quarter of 2019. Using railways as a mode of
transportation, the loading has increased by 40% during the first quarter of the current fiscal
under an average of 296.7 rakes a day against 211.6 rakes loaded in the last fiscal year. This
includes loading from the private sector too. While coal import by domestic coal-based power
plants was down by 18% during April-May this year, a report indicates that generation by
these plants grew by 42% to 167.156 Billion Units (BU) during this period compared to
117.547 BU the same period during the last fiscal. Coal imports fell by nearly 11% day by
day in May at 19.92 MT against 22.27 MT in April. If we substitute the quantity comprising
coking coal, metallurgical coal, higher GCV coal, anthracite coal, pulverized coal for
injection and pet coke which accounted for 6.3 MT is taken out of the equation of the total
imports, then the substitution with domestic non-coking coal has been for G11 to G15 grades.
Due to the rise in demand, you can witness the ups and
downs in the stocks of CIL. This has boosted the economy
by the employment generation. As the company has
promised to generate employment of around 10,000.