Coal India Ltd’s capital expenditure rose 8.5 per cent during April-July this fiscal to Rs 4,700 crore as it continued to invest heavily in evacuation infrastructure, land, and mining machinery, officials said. The capex spend during the first four months of the current fiscal year that started in April, was almost 100 per cent of the target of Rs 4,754 crore and 28.3 per cent of the annual target of Rs 16,600 crore (for 2023-24 fiscal), they said.
Typically, the capex starts slow in the first quarter with the company laying out the expenditure plans at the beginning of the fiscal and gradually builds up in the subsequent quarters.
