Overall dispatch of coal in the country went up by 8.51% to 67.81 MT last month compared to 62.49 MT in the corresponding month of the previous fiscal.
In July this year, the overall coal production also went up by 11.37% to 60.42 MT as against 54.25 MT in the year-ago period.
Earlier, the government had mandated Coal India (CIL) to import coal as an emergency measure to avoid the fuel shortage at power utilities and build up buffer stock.
Subsequently, Coal India awarded the contract for the supply of 7.91 lakh tonnes of imported coal to PT Bara Daya Energy Ltd (consortium) to power generation companies (gencos) during August and September.
Adhunik Power, Rattan India, Sai Wardha, and Avantha Power & Infrastructure Ltd are the gencos that had expressed willingness to buy imported coal.
On June 9, CIL floated its maiden tender to import 2.416 million tonnes of coal. On June 10, CIL floated two medium-term tenders for sourcing 6 MT of additional coal from overseas in order to ensure domestic fuel supplies amid the fear of shortage during monsoon.
Coal India accounts for over 80% of India's coal output.
Meanwhile, shares of Coal India on Thursday gained 3% to hit their 52-week high but closed flat on profit booking following robust June quarter results.
The mining major stock opened strong at ₹226.00, then gained further to hit a 52-week high of ₹226.10, registering a rise of 2.84%. The stock finally settled at ₹218.60 apiece, lower by 0.57%.
On the NSE, the stock rose nearly by 1% to settle at ₹219 apiece.
Yesterday, Coal India reported an almost three-fold rise in consolidated net profit at ₹8,832.86 crore for the June 2022 quarter on the back of higher sales.
The company had posted a net profit of ₹3,169.86 crore in the year-ago period, Coal India Ltd (CIL) said in a BSE filing.
Its revenue from operations during the April-June period increased to ₹35,092.17 crore from ₹25,282.75 crore a year ago.
The company's net sales in the first quarter rose to ₹32,497.9 crore from ₹23,293.65 crore earlier.
Its output in the April-June period rose to 159.75 million tonnes (MT) from 123.98 MT in the corresponding quarter of the previous fiscal.