India: CIL's output grows 2.5%, offtake edges up by 1.5% y-o-y in Apr-Oct'24

• Production rises by 2.3% y-o-y in Oct'24
  
  
• Dispatches remain largely stable y-o-y

  
  
  

Coal India Limited (CIL), the world's largest coal producer and a Maharatna company, has released its provisional production and offtake performance data for October 2024. Notably, the data indicates that in April-October 2024, cumulative production touched 403.8 million tonnes (mnt), a slight 2.5% y-o-y rise, while offtake increased by a lower 1.5% y-o-y to 428.5 mnt.

Production highlights

In October 2024, CIL produced 62.5 million tonnes (mnt) of coal, marking a modest y-o-y rise of 2.3% compared to Oct'23.

Over April-October 2024, cumulative production touched 403.8 mnt, again a slight y-o-y increase of 2.5%. Despite recent logistical challenges, the company has managed to maintain positive cumulative growth.

Offtake performance

CIL's coal dispatches in October 2024 totalled 61.4 mnt, a marginal decrease compared to the same month last year. This reduction comes in the wake of demand fluctuations and transportation bottlenecks within the market.

For the April-October period, cumulative coal offtake amounted to 428.5 mnt, a slight y-o-y increase of 1.5%. This growth reflects the stability of CIL's supply.

CIL has set a production target of 838 mnt for FY'25. Traditionally, production is lower in the first half of the year due to the monsoon season, with an increase expected in the latter months as operational conditions improve.