Coal news and updates

Coal India February offtake nos. rise 12% YoY to 57.4 MT

The state-run coal major's offtake stood at 57.4 million tonnes (MT) in February 2022, growing 12% as compared with 51.3 MT recorded in the same month last year.

The company's coal production rose 3.9% to 64.3 million tonnes (MT) in February 2022 from 61.9 MT in February 2021.

On a sequential basis, the production fell 0.31% while offtake dropped 5.59% in February 2022 as compared to January 2022.

On a consolidated basis, the PSU coal major's net profit jumped 47.7% to Rs 4556.54 crore on 19.7% increase in net sales to Rs 25,990.97 crore in Q3 FY22 over Q3 FY21.

Coal India is a coal mining company engaged in the production and sale of coal. As of 31 December 2021, the Government of India held 66.13% stake while Life Insurance Corporation (LIC) of India held 11.01% stake in the company.

Shares of Coal India advanced 3.18% to end at Rs 168.65 on Monday, 28 February 2022. The domestic stock market will remain shut today, 1 March 2022, on account of Mahashivratri.