Coal India hits record in sales

But disappoints on profit

While Coal India’s profit in the September quarter fell nearly 40 per cent, it also saw a record in output and sales.

Production rose 8.3 per cent to 113 million tonnes from the corresponding quarter a year before. Sales volume rose 13.6 per cent to 131.6 million tonnes. The performance, say company officials, had “never been seen in the recent past” and could also be the best ever.

During August and September, coal supplies to power plants grew by 20 per cent and 21 per cent, respectively, from the same months last year. Supplies to NTPC, the largest client, and its joint ventures grew nine per cent. The rise during the quarter was to 38.4 million tonnes, against 35.2 million tonnes during the same quarter last year.

“We stepped up production owing to high demand for thermal coal and improved average (rail) rake loading per day by seven per cent, besides despatching through road,” said a company official. Average daily loading of rakes in the quarter was 208.8, from 195.2 in July-September last year.

This was in the wake of thermal power generators facing a serious shortage in coal inventory, with the renewable and nuclear energy sectors also falling severely short of target. Growth in the hydro, nuclear, and other sources of energy fell by 12 per cent, 36 per cent and seven per cent, respectively. So, demand from thermal generators rose.