Coal India Ltd reported a marginal decline in coal production for March, even as offtake saw a slight uptick, signalling stable demand conditions.
The state-run miner said production fell 1.5% year-on-year to 84.50 million tonnes in March, compared with 85.80 million tonnes in the same period last year.
Offtake, however, rose 0.7% to 69.5 million tonnes, up from 69 million tonnes a year ago.
The latest business update comes amid a series of recent developments for the company. Last week, Coal India said it had received a Letter of Award from Telangana Power Generation Corporation Ltd to set up a 750 MWh battery energy storage system project at Choutuppal, with an estimated cost of ₹1,057.09 crore.
The company has also outlined plans to invest around ₹3,300 crore to establish eight new coking coal washeries, with a combined capacity of 21.5 million tonnes per year, aimed at improving coal quality and reducing import dependence. These facilities are expected to be operational by FY2030.
In its December quarter results, Coal India reported a mixed performance, with net profit coming in above estimates at ₹7,166 crore, even as operating performance and margins softened.
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Shares of Coal India were trading at ₹451.45 on the NSE, up 0.22% following the announcement.
