On Wednesday, Coal India (CIL) advanced 2 per cent to Rs 237.40 after the company announced its highest production in the first five months of Financial Year 22-23.

The government-owned coal miner said that “production increased by 44.6 million tonnes (MTs) in just five months and four days of the ongoing fiscal, as of 4 September, eclipsing the previous best of 44.5 MTs registered in FY’16, which though was for the entire year”. 

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The company’s progressive production touched 259.6 MTs on 4 September 2022 of the current fiscal, compared to 215 MTs during the same period.

Coal India Ltd, the volume of coal in the second half is higher than that of the first half. Of the 700 MT target for FY’23, the production split is around 44 per cent for the H1 and 56 per cent for the H2. At the current pace of production.

In the June quarter, the Government of India (GOI) held 66.13 per cent shares in the company. On a consolidated basis, the net profit of Coal India Ltd jumped by 178.7 per cent to Rs 8,832.86 crore. Revenue from operation hit a high of Rs 32,497 crore in the first quarter of FY23 over the first quarter of FY22.