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Powering Growth: Insights into February 2024 Coal Production and Dispatch

05 March 20243 mins read by Angel One
The substantial growth in overall coal production during February 2024 shows the capability and demand of the coal industry.
Powering Growth: Insights into February 2024 Coal Production and Dispatch
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Rising Coal Production

During the month of February 2024, the Ministry of Coal has achieved significant growth in overall coal production to 96.60 Million Tonne (MT) (Provisional) as compared to 86.38 MT in February 2023, reflecting a rise of 11.83%. With a growth of approximately 12.14%, the cumulative coal production (up to February 2024) increased significantly to 880.72 MT (Provisional) in FY’ 23–24 from 785.39 MT in FY’ 22–23.

Heightened Coal Dispatch

The amount of coal dispatched increased significantly in February 2024, rising to an astounding 84.78 MT (Provisional). This is a 13.63% growth rate in comparison to the 74.61 MT recorded in February 2023. Until February 2024, the Cumulative Coal Dispatch increased significantly to 882.44 MT (Provisional) in FY’ 23–24, representing an 11.08% growth over the similar period in FY’ 22–23, which was 794.41 MT.

These outstanding accomplishments highlight the coordinated efforts of all parties involved in guaranteeing a consistent supply of coal to support different economic sectors. The coal sector is still unwavering in its commitment to promoting wealth and growth as the country strives towards self-sufficiency.

Coal India’s Performance

Coal India Ltd (CIL) is mainly engaged in mining and production of Coal and also operates Coal washeries. The primary consumers of the company are the power and steel sectors. Consumers from other sectors include cement, fertilisers, brick kilns etc. The operations of CIL are spread across 8 states in India. It also has a fully-owned mining company in Mozambique known as Coal India Africana Limitada, which is yet to commence operations.

In February 2024, the production of Coal India Limited (CIL) increased by 8.69% to 74.76 MT (Provisional) from 68.78 MT in the same month the previous year. Simultaneously, the dispatch of Coal India Limited showed remarkable performance, increasing by 12.05% to 65.3 MT (Provisional) in February 2024 from 58.28 MT in the same month the previous year.

For the 9 months ended December 2023, the company recorded the highest ever PBT of ₹31,937 crores and PAT of ₹23,849 crores. The increase in PBT was ₹1,579 crore, i.e. 5% over the previous year’s period. The increase in PAT is ₹1,251 crore, i.e., 6% over the same period of the previous year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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