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CIL achieves 100% production target in Q1

Source : BUSINESS_STANDARD
Last Updated: Thu, Jul 05, 2012 19:10 hrs

State-run Coal India Ltd (CIL) has achieved 100 per cent production target during the first quarter of the financial year to 102.46 million tonne.

“It has registered a 6.4 per cent rise in production during the first quarter of the financial year to 102.46 million tonne (MT), compared to the same period last fiscal,” said Sriprakash Jaiswal, Union Coal Minister, while addressing the media in Kolkata on Wednesday. The firm has set a production target of 464.1 MT for the current financial year. “This is a positive sign, but we have not decided on whether to increase the annual target or not,” he added.

In absolute terms, the growth in coal production during the April-June 2012 period was 6.15 MT, compared to the previous financial year. Coal offtake during the period was also up 6.3 per cent to 112.92 MT, against 106.18 MT during the first quarter of the previous financial year. Increase in coal supplies in absolute terms was 6.74 MT.

The Kolkata-based firm has supplied 10.46 MT more coal than what it produced during the first three months of the fiscal. The coal supply to power sector during the period was 80.44 MT during the quarter, against 74.77 MT, registering a 7.6 per cent growth.

In the month of June 2012, coal supply to power sector was 26.11 MT compared to 23.75 MT supplied in June 2011, posting a growth of 10 per cent on a month-on-month basis.

Over burden removal (OBR) during the April-June period has been 196.47 million cubic metre, against 179.68 MCM during the same quarter posting a 9.3 per cent growth.



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