Coal India's supplies to power plants have jumped by 5 percent on-year between April-December 2023; and to the non-regulated sector (NRS), it surged to an all-time high during the same period, as per a release issued by the state-owned coal supplier on January 2.
The offtake to power plants during the first nine months of this fiscal came in at 454 metric tonnes (mts), which is 5 percent higher compared to 433 mts in the year-ago period. The quantum of supply is also higher than the committed quantity of 433 mts for the period, Coal India said.
The company also noted that its supply to NRS consumers peaked at an "all-time high" of 98 mts between April and December, which is 31 percent higher than 75 mts recorded in the comparable year-ago period.
With all the Coal India producing arms posting positive growth, the public sector coal miner produced 532 mts of coal at the end of the nine-month period December 2023, "logging 11 percent year-on-year growth", the release stated.
Production in volume terms rose sharply by 53 mts over 479 mts recorded in April-December 2023, it said.
With the appetite for coal remaining firm, Coal India said its total off-take rose to 552 mts with an on-year growth of 8.7 percent in the nine-month period ending December.
Coal stocks at domestic coal-based power plants have surged to 32 mts till the end of last month, about 5.6 percent more on a comparative basis of last year.
The stock at Coal India's pitheads stood at around 50 mts as of December, which is 56 percent higher than the inventory of 32 mts recorded in the same period last year. The growth in coal stock proves a comfortable buffer against any sudden surge in demand, the company said.
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