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Coal India Ltd. has reported a 17 percent surge in total coal output from April to November 2022. The company said that its progressive production during the tenure was 412.6 million tonnes (MTs), showing a 59.2 MT year-on-year growth.

CIL's output was 352.3 MT for the comparable period last year.

The state-owned coal miner now has to produce 287.4 MTs of coal during the remaining four months to achieve its target of 700 MTs for the current financial year. The company has achieved 99.7 percent of the progressive production target and brought down the annual asking growth rate by almost half to 6.7 percent from the initial target of 12.4 percent.

In November, CIL achieved 100 percent of the targeted 60.7 percent output for the month. This was 13 percent or 6.9 MTs growth from the output last year in November. The output was also up by 14.7 percent from the 52.9 MTs produced in October.

CIL’s supplies to power plants shot up by 11.6 percent or 39.5 MTs to 380.7 MTs during April-November 2022. Supplies were at 341.2 MTs for the comparable period last year.

Total coal off-take to all-consuming sectors was 445 MTs till November 2022 with a jump of nearly 24 MTs registering y-o-y growth of 5.7 percent. The coal stock at CIL’s pitheads at the end of November stood at 28.5 MT.

Coal India shares remained stable during the day's trade on Thursday and closed 0.42 percent lower at Rs 226.30 a piece.

(Edited by : Rukmani Krishna)