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Coal India starts FY14 on a positive note: Sriprakash Jaiswal

 KANPUR: State-owned maharatna Coal IndiaBSE -0.71 % has started the new fiscal on a positive note by completing the production and distribution targets for April, Coal Minister Sriprakash Jaiswal said here today.

The company achieved production of 35.75 million tonnes (MT) in April this fiscal, an increase of 5.7 per cent from the same period previous fiscal, he added.

The offtake in April was at 39.81 MT for April 2013 which stood at 37.76 MT in April last year, Jaiswal said.

This is despite the fact that some state power utilities have not taken further supplies of coal as they have abundant
stocks with them, he added.

The supply of coal to power utilities during April this fiscal was 29.55 million tonnes (MT) against 26.82 MT supplied in same month last fiscal, registering a growth of 10.2 per cent, Jaiswal said.

CILBSE -0.71 %, which accounts for over 80 per cent of domestic coal production, loaded an average of 201 rakes per day during April, against a loading of 181.5 rakes/day in the same month last year, he added.

The growth in coal loading during the month has been 10.7 per cent, Jaiswal said.

"This is a positive beginning of the fiscal year for this maharatna...," he added.