Coal India (CIL) advanced by 1.73% to Rs 388.40 after the public sector coal mining company achieved an impressive 8.2% year-over-year increase in coal production volumes for December 2023.

During the reported period, the company's total coal production reached 71.9 million tonnes (MTs), reflecting significant growth from the 66.4 MTs recorded in December 2022.

In terms of coal offtake, CIL reported a notable 6.1% increase in volumes, reaching 66.6 MT for December 2023 compared to 62.7 MT in December 2022.

For the period from April to December of 2023, the company’s total coal production and total coal offtake aggregates to 531.9 MT (up 11% YoY) and 552 MT (up 8.7% YoY), respectively.

Coal India is a coal mining company engaged in the production and sale of coal. As of 30 September 2023, the Government of India held 66.13% stake in the company.

The company's consolidated net profit increased 12.73% to Rs 6,813.50 crore in Q2 FY24 as against Rs 6,043.99 crore posted in Q2 FY23.

The scrip had risen 2.54% to hit the day's high at Rs 391.50, which is also a 52-week high for the counter.

In the last one year, the stock of CIL has zoomed 161.90% while the benchmark Nifty 50 index has gained 18.99% during the same period.