Coal India’s supplies to power sector hit new record in 2021-22

Coal India (Representative Image)

Coal India’s supplies to power sector have reached a fiscal record of 493 million tonnes (mt) for 2021-22, breaching the previous high of 491.5 mt seen in 2018-19.

Coal India's new high comes several days before the fiscal’s end. Between April 2021 and February 2022, the Maharatna coal miner supplied 90 mt more coal to the power sector than it did during the corresponding period last year.

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The dispatch to the coal-consuming power sector was 488 mt between April 2021 and February 2022 - a year on year growth of around 23 percent, said Coal India in its statement.

The major challenge during the year was adjusting to the unpredictability of coal demand, according to the statement. Coal-based power generation witnessed muted growth in previous two fiscals. Then it rose sharply to 11.2 percent till January 2022 , compared to the same period in the previous fiscal.

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At 48.4 mt in February 2022, Coal India posted 22 percent growth in supplies to the power sector - a jump of 8.6 mt compared to 39.8 mt in February 2021.

Coal India aims to close the current fiscal with 548 mt off-take to the power sector as projected by the Central Electricity Authority. The current coal stock of 43 mt at the company's pitheads is expected to increase further by the end of the fiscal.

At 12:13 pm, shares of Coal India were trading 2.24 percent lower at Rs 184.65 apiece on the BSE.