Coal India’s production and offtake witness down fall in June month
Coal India reported an 8.5% drop in June 2024 production and a 7.4% decline in offtake, signaling weaker operational performance in the first quarter of FY25.
Coal India Sees 8.5 Percent Drop in June Production and 7.4 Percent Decline in Offtake
State-owned Coal India’s shares showed a slight decline on Tuesday after the company reported a drop in its production for June and the April to June quarter. The overall production in June fell by 8.5% compared to the same period last year. The company produced 57.8 million tonnes in June 2024, down from 63.1 million tonnes in June 2023.
For the June quarter, Coal India’s production declined by 3.2%, totaling 183.3 million tonnes compared to 189.3 million tonnes in the same period last year. The total production for the quarter was 21% of the FY26 guidance of 875 million tonnes. The largest coal supplier also reported a 7.4% drop in offtake, which reached 60.5 million tonnes in June, down from 65.2 million tonnes the previous year. The offtake for the Maharatna PSU fell by 4.5% from the last quarter to 190.1 million tonnes.
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The current offtake for Coal India Ltd this month stood at 198.9 million tonnes. Meanwhile, the company confirmed that environmentally friendly coal transportation through first-mile connectivity systems increased by 34% to 102.5 million tonnes in FY25, up from 76.5 million tonnes in the previous period. The volumes were moved through 20 mechanized connectivity systems linked to Indian Railways, an increase from 17 systems last year.
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