Coal news and updates

CIL October production up, offtake declines marginally m-o-m

November 4: Coal India Limited (CIL) has reported growth in its coal production in October 2013 while offtake for the month dropped marginally compared to that in September 2013.

The company’s coal production (provisional) in October 2013 rose 5.63% to 35.03 million tons (mt) from 33.16 mt in September 2013 whereas offtake dropped marginally to 35.51 mt in October 2013 against 35.79 mt in September 2013.

This is the second consecutive month when production of coal increased for CIL, after a consistent fall in both production and offtake since April. According to data provided by the company, production had been falling consistently from a high of 35.75 mt in April to 34.50 mt in May and to 32.57 mt in June. Output inched up to 32.77 mt in July but dropped again to 31.38 mt in August. The September production of the company rose to 33.16 mt.

The October 2013 production was, however, marginally down by 2.27% from 35.84 mt in the corresponding month last year (October 2012) while offtake in October 2013 declined 9.19% from 39.10 mt in October 2012.

Production in October was 86% of the target of 40.82 mt whereas offtake was 85% of the target of 41.55 mt. In September, CIL’s production was 99% of the target of 33.58 mt whereas offtake was 3% above the target of 34.84 mt.

The company’s total coal production during the seven months (April-October) of 2013-14 stood at 235.51 mt which was 95% of the target of 247.45 mt and was almost 3.57% up from 227.39 mt produced in the same period last year (April-October 2012-13).

The company has set a target to produce 482 mt coal for the financial year (2013-14). This implies that CIL needs to produce almost 247 mt of coal in the remaining five months of the financial year at the rate of almost 50 mt per month.

Offtake during the first seven months (April-October) of 2013-14 stood at 259.87 mt which is 97% of the target of 268.78 mt and a 2.58% increase over 253.31 mt reported for the same period last year.

The following table provides monthly break-up of CIL’s production and offtake in 2013-14 (in mt):

*Total figure may not tally due to revision in figures of previous months.
October figures are provisional.