Coal news and updates

State-owned CIL on Thursday said overall coal offtake rose by 32.7 per cent to 160.4 million tonnes (MT) in the first quarter of this ongoing fiscal.

 

The company's overall offtake was at 120.8 MT in the corresponding quarter of the previous fiscal, Coal India Ltd (CIL) said in a statement.

 

"Even as coal demand from the power sector is vacillating, Coal India's overall coal offtake has risen up to 160.4 million tonnes during the first quarter of the current fiscal ending June'21. This represents 33 per cent growth compared to 120.8 MT of same quarter of last year, the increase in volumes terms being a robust 39.6 MT," the statement said.

 

"CIL's April-June'21 offtake was also close to 7 MT higher than 153.5 MT of pre-Covid quarter April-June'19 clocking 4.5 per cent growth," it said.

 

So far in the current fiscal, coal-based power generation is yet to get into a steady rhythm having a bearing on supplies to power sector, CIL said.

 

After an encouraging spurt in April, coal fired electricity generation slowed down in May. It started accelerating during the last ten days of June again, it added.

 

CIL supplied 126.3 MT of coal to power sector during current financial year's first quarter, a jump 34 per cent compared to 94 MT of similar quarter last financial year.

 

The maharatna coal miner also posted a 5.6 per cent growth compared to relative Covid-free first quarter of 2019.

 

 

Source: https://www.businesstoday.in/industry/energy/story