Team News Riveting
Kolkata, January 1
State-run Coal India Limited (CIL) recorded a positive performance for the third quarter of the current fiscal as the company posted growth in all the three performance parameters of output, off-take and overburden removal (OBR) compared to year ago same quarter.
“With the non-power sector consumers lifting increased quantities of coal during Q3 (third quarter of financial year 2020-21), CIL could record a robust 43.4 per cent growth in supplies to this sector” said a senior official of the company.
For October-December’20 CIL supplied 36.62 Million Tonnes (MTs) to non-power consumers compared to 25.53 MTs that it did during Q3 of last year. The incremental supply during the period was a little over 11 MTs.
During the quarter ended December’20, CIL at 154.6 Million Tonnes (MTs) supplied 13 MTs more coal to the consuming sectors posting 9.2 per cent growth compared to 141.6 MTs of Q3 last fiscal. The quarter-on-quarter growth was 15 per cent compared to the off-take of 134.3 MTs during July-September 20.
CIL’s output at 156.8 MTs of coal during October-December’20 logged a jump of 6.3 per cent compared to 147.5 MTs it produced for the same quarter last year. Production increase in volume terms was 9.3 MTs during the referred period. The quarter-on-quarter output increase was a whopping 41.8 MTs clocking a robust growth of 36.4 per cent CIL produced 115 MTs during Q2 of the current fiscal.
“The demand for coal from the power sector is yet to crystallize fully” stated the referred executive. Despite the tepid demand there was a nominal growth of 1.5 per cent in supplies to power plants during the third quarter of FY’21. CIL’s off-take to Power Sector was 117.8 MTs in October-December’20 against 116.07 MTs of last year’s similar quarter.
The company’s OBR clocked a healthy growth of 17.6 per cent at 366.23 Million Cubic Metres (M.CuM) in Q3 FY’21, clearing the way for easier future production. OBR was 311.52 M.CuM for the comparable quarter last year. CIL has been registering a steady growth in OBR since the beginning of the fiscal.
