State-owned Coal India Ltd (CIL) shipped 11% more coal to the power sector in October, reaching 50.8 million tonnes, against 45.8 million tonnes during the month last fiscal, in response to heightened power demand during the festive season.

This increase occurred despite the challenges posed by heavy rainfall in the regions where CIL's subsidiaries operate, primarily in the eastern part of the country, the company said in a recent statement.

In the first seven months (April-October) of the fiscal year 2023-24, CIL's coal supply to the power sector jumped to 346 million tonnes compared with the previous year's 331 million tonnes, reflecting a 4.5% rise.

"The quantum supplies to the power sector were 4.7 million tonnes more than the progressive commitment of 341.3 million tonnes till October," said the statement.

CIL remains confident in its ability to surpass the annual supply target of 610 million tonnes to the power sector.

During the April-October period, CIL demonstrated noteworthy production, with coal output reaching 394 million tonnes, 11.9% higher than 352 million tonnes during the same period in the previous year.

The company plans to produce 780 million tonnes of coal during this fiscal.

By the end of October, CIL had 41 million tonnes of coal in stock at its mines, up 51.9% or 14 million tonnes compared with the year-ago level. This surplus provides a comfortable buffer to meet any potential escalation in future coal demand.

Coal India accounts for over 80% of domestic coal output.

(Writing by Alex Guo  Editing by Emma Yang)
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