The company's supplies to thermal power plants of the country shot up close to 6% YoY to 23.5 million tonnes (MTs) during the first fortnight of October 2023.

"The growth was posted at a time of sudden surge in power demand and even as unseasonal rains hit hard the operations in coal bearing areas of CIL's subsidiaries based in the eastern region of the country. Chattishgarh based SECL also bore the brunt of the inclement weather,” the coal supplier said in a statement.

Coal India has supplied nearly 319 MTs to the country's coal fired plants till 15 October FY2024, which is a 12 MT jump in volume terms as compared to 307 MTs of same period, FY 2023. The 4% growth recorded during this period is at par with current year's annual asking growth rate to power plants.

The company said that it was given a demand projection of 610 MT supply to the country's power plants for FY 2024 which is 4% more than what it supplied to this sector in FY 2023.

Coal India expects its supplies to exceed the projected target.

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

The company's consolidated net profit fell 9.8% to Rs 7,971.04 crore despite of 1.8% rise in net sales to Rs 33,072.64 crore in Q1 FY24 over Q1 FY23.

Shares of Coal India rose 0.50% to Rs 313.70 on the BSE.