CIL earns revenue worth over Rs 1.52 lakh crore from coal sales in FY'22: Govt

Representative picture (Image: AP)

State-owned CIL has earned revenue worth over Rs 1.52 lakh crore from coal sales in financial year 2021-22, Parliament was informed on Wednesday.

Coal India (CIL) earned revenue by selling 661.89 million tonnes of coal in the last fiscal year.

In a written reply to the Lok Sabha, Coal Minister Pralhad Joshi said the mahartana firm has garnered Rs 29,400 crore by selling 177.59 MT of coal in the April-June period of the ongoing financial year.

The revenue figure of the first quarter of FY’23 is provisional, it added. The revenue figure of the first quarter of FY’23 is provisional, it added. While in FY’21, CIL earned Rs 1,26,786.13 crore from sale of coal, in FY’20 the figure stood at Rs 1,34,979.13 crore.

In a bid to increase the revenues of the public sector companies operating in the coal space, the government has given them a go-ahead for diversifying into other sectors including renewable energy.

The captive mine owners, other than atomic minerals, can sell up to 50 per cent of their annual mineral, including coal, in the open market after meeting the requirement of their end-use plants.

Moreover, the coal production is being increased continuously which has resulted in the rise of dry fuel, thereby amounting to augmentation of revenue.

Coal India accounts for over 80 per cent of domestic coal output. The company is eyeing one billion tonnes of coal production by FY’25.