Coal news and updates

CIL’s June output up 6.04%, offtake grows 3.24% y-o-y

July 2: Coal India Limited (CIL), on July 2, said its production and off-take during the month of June 2014 increased by 6.04% and 3.24% respectively as compared to June 2013, but on month-on-month basis the performance was disappointing, mainly due to excess rains that affected both production and loading of coal.

Production in June 2014 stood at 34.54 million tons (mt), up from 32.57 mt produced in June 2013, whereas off-take increased to 38.29 mt from 37.09 mt recorded in the corresponding month in 2013, according to provisional data released by the company.

On month-on-month basis, the company’s production was down 4.76% from 36.27 mt produced in May 2014 whereas offtake fell by almost 6% from 40.71 mt in May 2014.

During the first quarter (April-June) of the current financial year (2014-15), production and off-take by the world’s largest coal miner stood at 108.33 mt and 119.55 mt up 5.30% and 3.73% respectively over the corresponding period of 2013-14.

For the current financial year, the company has set a production target of 507 mt and offtake target of 520 mt. Its production and off-take targets for the first quarter of the financial year were 113.01 and 130.95 mt respectively.

According to available data, the company’s actual production in June 2014 was 94% of the targeted 36.84 mt while off–take during June 2014 was 91% of the target of 42.01 mt. 

The following table provides monthly break-up of CIL’s production and offtake in 2014-15 and 2013-14 (in mt)*:

* Figures have been rounded in some cases