Coal India rallies after December 2021 offtake grows 16% Y-o-Y to 60.7 MT

Coal India advanced 4.52% to Rs 152.65 after the state-run coal major's offtake stood at 60.7 million tonnes (MT) in December 2021, growing 15.7% as compared with 52.5 MT recorded in the same month last year.

The company's coal production rose 3.3% to 60.2 million tonnes (MT) in December 2021 from 58.3 MT in December 2020.

On a sequential basis, the production jumped 11.89% while offtake rose 6.86% in December 2021 as compared to November 2021.

On a consolidated basis, the PSU coal major's net profit fell 0.6% to Rs 2,932.73 crore on 9.3% increase in net sales to Rs 21,292.50 crore in Q2 FY22 over Q2 FY21.

 

Coal India is a coal mining company engaged in the production and sale of coal. As of 30 September 2021, the Government of India held 66.21% stake while Life Insurance Corporation (LIC) of India held 11.01% stake in the company.

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