Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
Coal
July 12, 2022

Coal India’s Capex Rises 65% In Q1

Urvi Srivastava Economic Trends capex, Coal India, coalfield, land acquisition

Land acquisition at Rs 608 crore accounted for nearly one-fifth of the first quarter’s total capex basket. This is close to 2.3 times of Rs 268 crore spent under this head during April-June 2021-22.

Coal India on Monday said its capital expenditure increased 64.8 per cent to Rs 3,034 crore in June quarter 2022-23, driven by strong spend in acquiring land and strengthening transport infrastructure in its coalfields under first-mile connectivity projects. Coal India’s capital expenditure was Rs 1,841 crore in April-June period of last financial year. “Sustaining its growth in capital expenditure (capex) for the ninth quarter on the trot, Coal India Ltd (CIL) achieved a sturdy 65 per cent growth in the first quarter FY23 over comparable quarter last year,” it said in a statement.

Land acquisition at Rs 608 crore accounted for nearly one-fifth of the first quarter’s total capex basket. This is close to 2.3 times of Rs 268 crore spent under this head during April-June 2021-22. The expenditure was spread across all the subsidiaries of CIL. “The capex increase came on the back of a strong spending in acquiring land and strengthening transport infrastructure in our coalfields under first-mile connectivity (FMC) projects. These two vital areas help CIL in expanding its mining operations for accelerated production and pairing it with seamless transportation of coal,” a senior official of the company said.

FMC is an initiative by coal companies to minimise environmental pollution, where coal is being transported through conveyor belt from coal handling plants to silos for loading. Capex under FMC projects, on construction of coal handling plants, silos including weighbridges totalled to Rs 577 crore during the quarter under review. This is much higher as compared to Rs 141 crore spent in the first quarter of last fiscal.

Rail sidings and laying of rail corridors took up Rs 571 crore during Q1 FY23, registering a year-on-year growth of 57 per cent. “CIL’s production tempo is keeping up a consistent double-digit growth in FY23 so far and all efforts are on to continue the trend. What assumes importance is to have a matching evacuation infrastructure that can handle transportation of the increased output”, the official said. Even during COVID-19 slowdown, CIL’s capex spending witnessed steady quarter-wise increase. CIL accounts for over 80 per cent of domestic coal output. 

(PTI)

Avatar

Urvi Shrivastav

→ Urvi Shrivastav

RBI Announces International Trade Settlement In Indian Rupee 91 Percent Of Indian Consumers Prefer Online Payments: Experian Report

Related Posts

SBI General Insurance CFO

Economic Trends, Financial Leadership, Financial Reporting

CFO Plays Multiple Roles Beyond Finance Sector: CFO, SBI General Insurance

rupee

Economic Trends, Financial Reporting

Rupee Posts 8 Paise Up To 81.60 Against USD Led By Foreign Capital Inflows

economy

Economic Trends, Financial Reporting, Global News

Global Economy May Slowdown More In 2023, According To Big Banks

Selected Stories

  • MayankSynergizing finance, strategy and management: The multipronged role of today’s CFO

    Read more

  • NECNEC Corporation elevates India CFO Mayank Khandelwal to Head of Finance for Global Regional Headquarters and Country Affiliates

    Read more

  • Screenshot 2023-04-18 190754Ramesh Bafna Appointed As The New CFO Of Zepto; Succeeding Jitendra Nagpal

    Read more

  • Screenshot 2023-03-28 180755Infobip appoints Richard Kraska as Chief Financial Officer

    Read more

  • 1494568857_NoPMEQ_CFO-470CFO – From ‘Finance’ To ‘Futuristic’

    Read more

Movements

  • Screenshot 2023-03-28 180755Infobip appoints Richard Kraska as Chief Financial Officer
  • zUah2lDb_400x400Deloitte India Named Romal Shetty As CEO For Four-Year Term
  • cfo imageVishnuhari Pareek Named As Head Of Finance At Arkam Ventures
  • thumbnail_Sidharth1Siddharth Sehgal Is New CFO Of BeatO
  • Business men giving a handshake. Business conceptRamamurthy Becomes MD, CEO of BSE, SEBI approves appointment

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.