India’s coal production increased by 32.57% to 67.59 million tonnes (MT) in June 2022 from 50.98 MT in June 2021, the Ministry of Coal data shows. In June 2022, Coal India Ltd. (CIL), Singareni Collieries Company Ltd. (SCCL) and captive mines registered a production growth of 28.87%, 5.50% and 83.53%, respectively.
The total coal production of these companies in June 2022 stands at 51.56 MT, 5.56 MT and 10.47 MT, respectively. Of the top 37 coal mines, as many as 22 produced over 100% coal, while the production of another nine mines was between 80 and 100%.
The coal despatch increased by 20.69% to 75.46 MT in June 2022 as compared to 62.53 MT during June 2021. During June 2022, CIL and Captives and others registered a growth of 15.20% and 88.23% by despatching 58.98 and 11.05 MT, respectively. However, in terms of dispatches, SCCL registered a negative growth of 0.46% in the month.
The power utility despatch grew 30.77% to 64.89 MT during June as compared to 49.62 MT in June 2021 due to an increase in the power demand. The coal-based power generation also rose 26.58% in June 2022 on a year-on-year basis.
The overall power generation in June 2022 rose 17.73% as compared to the same period last year. However, the coal-based power generation recorded a 2.77% decline in June 2022 at 95,880 MU as compared to 98,609 MU in May 2022. The total power generation also decreased 0.76% in June 2022 to 1,38,995 MU from 1,40,059 MU in May 2022.
Meanwhile, the government says that it aims to conclude the wage pact of its non-executive workforce at the earliest in a "mutually-agreeable manner". "CIL (Coal India Ltd.) maintains amicable and harmonious relations with its unions and strives to avoid any discordance or strikes in view of the importance of the coal sector in the country. The negotiations are in progress and it usually takes time to conclude the pact," says the ministry.
Notably, CIL was the first public sector unit in the country to have successfully concluded the previous three wage agreements. The company hopes to "quickly seal the wage pact" this time as well.
India’s biggest coal miner PSU Coal India reported a 46% growth in consolidated profit for the quarter ended March 31, 2022. Coal India’s sales stood at ₹30,046.25 crore during the Jan-March quarter as compared with ₹24,510.80 crore during the same period last year. Total revenue was ₹32,706.77 crore during Q4 FY22 against ₹26,700.14 crore in Q4 FY21.
Coal India’s production of raw coal during Q4 FY22 increased to 209 MT from 203.42 MT a year ago. Off-take of raw coal also grew to 180.25 MT during this period from 164.89 MT. The Coal India stock closed at Rs 181.65, down 0.80 points or 44%, from the previous session close of Rs 182.45 on the NSE today.
