Coal India’s May 2024 Production Hits 64.4 Million Tons, Up 7.5%

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Synopsis:

Coal India reported a 7.5% increase in coal production to 64.4 million tons in May 2024. Offtake rose by 7.2% to 68.2 million tons. April-May production increased by 7.4%, and quarterly profit grew by 26% to ₹8,640.5 crore.

Coal India News Today

State-owned Coal India and its subsidiaries achieved coal production of 64.4 million tons in May 2024, marking a 7.5% increase compared to 59.9 million tons in May 2023. Coal offtake also saw a significant rise, reaching 68.2 million tons in May 2024, up 7.2% from 63.7 million tons in May 2023.

Explore: Coal India

April-May 2024 Cumulative Performance

During the April-May 2024 period, Coal India produced a total of 126.2 million tons of coal. This represents a 7.4% increase from the 117.5 million tons produced during the same period the previous year.

Total coal offtake for April-May 2024 stood at 132.3 million tons, reflecting a 5% rise from 125.9 million tons in the corresponding period last fiscal year.

Additional Read: Coal India Ltd. – A Detailed Analysis

April 2024 Performance

In April 2024, Coal India reported coal production of 61.8 million tons, a 7.3% increase year-on-year. The company’s coal offtake in April 2024 was 64.3 million tons, up 3.2% from 62.3 million tons in April 2023.

Fiscal Fourth Quarter Earnings

Earlier in May, Coal India announced a 26% growth in profit for the fiscal fourth quarter, reaching ₹8,640.5 crore, compared to ₹6,869.5 crore in the previous year. Despite a 2% decline in revenue from operations, which fell to ₹37,410.4 crore from ₹38,152.3 crore, the company's bottom line improved significantly.

Market Share

Coal India accounts for over 80% of domestic coal production, solidifying its position as a critical player in India's energy sector.

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