Coal India Ltd (CIL) has reported an increase of 3% in monthly coal production to 46.59 MnT in May’19 as against 45.29 MnT in Mar’19. However, output figures were slightly lesser on the year from 47.14 MnT in May’18.
The coal company has been envisaging higher coal off-take compared to the corresponding monthly output in the beginning of FY20, in order to dissipate the high level of coal stock in hand. Accordingly, coal off-take in May’19 was 12% higher on the year from the corresponding output.
Total coal off-take was noted at 52.09 MnT in May’19, down 1% Y-o-Y from 52.81 MnT in May’18, which was also lower on the month from 52.09 MnT in Apr’19.
During the first two months of FY20 (Apr’19-May’19), CIL’s coal production was marked 91.88 MnT, drawing almost close to the corresponding period’s output of 91.98 MnT in FY19.
Off-take volume in the two-month period was 104.44 MnT, up 0.6% Y-o-Y from 103.84 MnT in Apr’18-May’18 period.
Subsidiary-wise Coal Production in May’19:
SECL edged out MCL to re-emerge as the highest coal producing subsidiary during May’19. SECL’s coal production was 11.9 MnT against 11.64 MnT from MCL.
However, SECL had posted a hefty fall in production from the year –ago month, while MCL’s production has increased in the same period.
Of the 8 coal producing subsidiaries of CIL, only NCL had reported lesser off-take than the corresponding production in May’19.
Financial Earnings in FY19: CIL has posted excellent earnings in the recently concluded FY19. Company’s consolidated profit rose by a whopping 148% Y-o-Y to INR 17,462.18 Crores in FY19.
The company had recorded 13% increase in revenue from sales, accounting to the higher volumes being dispatched, coupled with impressive premium fetched in the e-auctions. Consequently, CIL managed to accumulate net income of INR 105,420.62 Crores in FY19 as against INR 91,625.25 Crores in FY18.
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