Coal India's supplies via e-auction up 31% so far in FY22

NEW DELHI, Jan. 19 -- State-owned miner Coal India's supplies via e-auction has risen 31% so far in the current financial year.

The company's actual dispatches under five e-auction windows were at 77.4 million tonne compared with 59 million tonne a year ago, the miner said in a statement.

Special forward e-auction, the exclusive window meant for power sector, accounted for nearly 28 million tonne of total dispatches.

Coal supplied under other e-auction outlets, where predominantly non-regulated sector customers access coal, accounted for 49.5 million tonne.

In this category, Coal India logged a growth of 21% compared to 41 million tonne in same period last year and a two-fold increase over 24.4 million tonne of the comparable period in 2019.

The increase in supplies under e-auction was achieved even though Coal India logged an all-time high of almost 391 million tonne of supplies to thermal power plants during April-December, clocking a 23.3% growth.

Coal India's total offtake rose to 482 million tonne during the first nine months of the current fiscal, up 18% year-on-year.

The state-run company has booked a total of 83.7 million tonne of coal under its five e-auction categories during April-December, an increase of 2.3 million tonne on year.

During the fourth quarter of the current fiscal, even if Coal India books the same quantity of coal in e-auctions that it did during same quarter previous fiscal, which was 42.6 million tonne, the company would sail past the record high e-auction allocation of 124 million achieved in 2020-21, the statement said.

The premium over notified price in e-auctions rose almost four-fold to 58% during April-December compared to 15% of same period last year.

Despite supplying a record volume of coal to power sector, dispatches to non-power sector during April-December stood at 91.1 million tonne which is almost on a par with 92.2 million tonne of same period last year. Published by HT Digital Content Services with permission from MINT. For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com