Coal India on new high, output surpasses half billion tonne mark

Coal India Limited (CIL), the country’s flagship coal miner, while clocking a coal production of 538.75 Million Tonnes (mt) and coal off-take of 534.49 mt during 2015-16 for the first time had crossed the threshold of half billion tonne mark in both the performance parameters.

The record coal production of 538.75 mt in 2015-16 registered a growth of 9% on a year-on-year comparison, the incremental increase in absolute terms being 44.50 mt compared to last year. All Subsidiary companies have registered positive growth in coal production over previous year.

During the 4th quarter of fiscal 2015-16 the coal production at 165.24 mt increased by 13.38 mt registering a growth of 8.8% on quarter-on-quarter comparison. During similar quarter of last fiscal, the production was 151.86 mt. 

Coal supplies to consumers too witnessed an upsurge as the country’s leading coal miner recorded a growth of 9.2% in coal off-take. Coal India supplied 534.49 mt of coal to its consumers against 489.38 mt last year, the increase in absolute terms being 45.11 mt.  As in production, all subsidiary companies of CIL have registered positive growth in off-take also. 

The company reported  rise in consolidated net profit at Rs 4,247.93 crore for the fourth quarter ended March 31, 2015-16. It had posted net profit of Rs 4,238.55 crore in the corresponding quarter of financial year 2014-15, CIL said in a BSE filing. For the entire fiscal 2015-16, Coal India’s consolidated net profit was up 3.9 per cent at Rs 14,274.33 crore, while revenue increased by 5.2 per cent to Rs 78,010.12 crore. The company’s total income increased to Rs 21,402.75 crore in the fourth quarter of the last fiscal ended March 31, from Rs 21,339.55 crore in the year-ago.