Coal India Limited (CIL) increased 5.57% to Rs 199.95 after the company raised the supplies to thermal power stations by 14.2% during the first half (H1) of April 2022, during the same period last year.
CIL’s supplies have hit 1.64 million tonnes (mt) per day against 1.43 mt supplied in a similar period during April 2021.
The company increased its production to 26.4 mt during the first half of April 2022, registering 27% year-on-year (YoY) growth. CIL is heading towards its highest April production ever. The output expansion in volume terms was 5.7 mt.
CIL has made available an additional 8.75 mt of coal to the state and Central generation companies (Gencos) for lifting through rail-cum-road (RCR) till 31 May. From this, 3.25 mt is the unlifted quantity of the earlier RCR, and 5.5 mt is the new round of RCR.
The country’s total power generation was 9.5% higher, at an average of 4.53 billion units, till 15 April over the same period last year. The increase was 400 million units per day against the average generation of 4.13 billion units for the same period.
CIL is coordinating with the ministries of coal, power, and railways to stock up at power plants in a synergic effort. The company’s supplies are increasing. The pressure will ease if the imported coal-based power plants meet their requisite imports this year.
CIL is a coal mining firm engaged in producing and sale of coal. As of 31 December last year, the central government held a 66.13% stake, while Life Insurance Corporation (LIC) of India held an 11.01% stake in CIL.
Based on consolidation, the public sector undertaking (PSU) coal major’s net profit rose by 47.7% to Rs 4,556.54 crore on a 19.7% increase in net sales to Rs 25,990.97 crore in the third quarter (Q3) of FY22 over Q3 FY21.