Coal India gains 3% on logging 20% YoY growth in coal output in H1FY23
Shares of Coal India NSE 2.49 % on Monday gained close to 3% to touch the day’s high of Rs 218 after the coal miner’s output in the first half of FY2023 rose 20% YoY. Meanwhile, the company’s supplies to power plants also logged 17% growth.
“Continuing to maintain the double-digit growth streak in production, beginning FY23, Coal India (CIL) closed the first half of the current fiscal, producing 299 million tonnes (MTs). This is a sharp upward swing of 49 MTs, the highest incremental growth for any period. Compared to 250 MTs of H1 last year, the growth was 19.7%,” said the company’s filing to the exchange.
