Coal news and updates

CIL coal off-take edges up 5% in February y-o-y

Coal India Ltd (CIL) achieved a 5.46% growth in coal off-take in February 2016 to 45.53 million tons (mt) from around 43.17 mt seen during the same month of 2015.

The company’s coal off-take in February 2016 stood at 48.32 mt which means the off-take was down by 5.77% month-on-month. The off-take target for February was 47.13 mt while that for January it was 50.85 mt.

Of the total 8 coal-producing subsidiaries of CIL, the off-take by only two (ECL and BCCL) in February 2016 was higher than the target for the month. Rest of the five subsidiaries - ECL, CCL, NCL, WCL, SECL, MCL and NEC – missed their targets.

CIL’s total off-take during the first 11 months of 2015-16 (April-February) stood at 483.14 mt, which was 9.34% higher compared to 441.85 mt seen during the corresponding period of 2014-15, the data revealed.

Despite registering 5.46% growth, the company has missed its off-take target of 497.62 mt by 3% set for the first 11 months of 2015-16, the data revealed.