COAL INDIA LIMITED
13 February 2012
Q3 & April-December 2011 results of Coal India Limited
The Board of Directors of Coal India Limited has approved the Financial Results up to December 2011 which show an increase in turnover and profit compared to the same period last year. The gross turnover has increased by 28.28% and Profit Before Tax has increased by 47.67% to Rs.15,534.91 Crores during April-December 2011, compared to that of Rs.10,519.91Crores during the same period last year.
Coal production has picked up in the month of January 2012 registering a positive growth of 6% compared to January 2011. Coal production has increased further in February 2012. Intensive monitoring is being done up to the mine level to ensure better production and productivity.
During the third quarter ending December 2011, CIL has enhanced its off take to 110 Million Tonnes (MTs) compared to 93 MTs during the second quarter (July-September) of 2011. During January 2012, there was a 5% increase in the availability of rakes. The Board was informed that in a meeting with Chairman, Railway Board, the Railway authorities have agreed to provide at least 10-12 extra rakes per day for evacuation of coal which will enhance the off take to power houses and other consumers. The average availability of rakes per day touched an all time high this month. To increase production in mines, which are reaching peak capacity, environmental clearance for additional 25% capacity has been actively taken up for consideration of Ministry of Environment & Forests. A meeting was held in this regard on 11 Feb 2012 with Secretary, MoEF.
The CIL Board in its meeting today has also approved the Amrapali Project situated in North Karanpura Area of Central Coalfields Limited for a capacity of 12 MTs per annum which will contribute 1.5 MTs additional production in the coming year.