Coal India's output increases 10% to 773.6 million tonnes in FY24

State-owned Coal India's production rose by 10 per cent to 773.6 million tonnes (MT) in 2023-24 but fell short of its production target of 780 MT for the fiscal, according to an exchange filing.

Coal India Ltd's (CIL) production was 703.2 MT in the preceding 2022-23 fiscal, the miner said in an exchange filing.

CIL's production and off-take are pegged at 838 MT for FY 2025, it said.

In March 2023, the company reported its highest-ever monthly production at 88.6 MT coal, up 6.1 per cent over 83.5 MT in the same month last year.

The coal offtake rose by 8.5 per cent to 753.5 MT during the fiscal ended March 31, from 694.7 MT in 2022-23. The offtake in March was at 68.8 MT as compared to 64.2 MT last year, up 7.2 per cent.

The supplies to the power sector reached 618.5 MT, up 5.4 per cent over 586.6 MT in FY23. The company supplied 8.5 MT more coal to power plants against its commitment of 610 MT. The supplies to non-power sectors (NPS) rose by 25 per cent to 135 MT from 108.1 MT in FY23.

The fiscal ended with a coal inventory of around 90 MT which is 20.7 MT or 30 per cent higher than 69.3 MT in the same period last financial year.

"On average, CIL loaded 292.2 rakes per day during FY 2024 against 273.6 rakes/day of FY23 registering a growth of 6.8 per cent. One rake load of coal is approximately 4000 tonnes," the company said.

Kolkata-based Coal India, under the Ministry of Coal, is the country's largest producer and supplier of dry fuel.