Coal India’s capital expenditure rises 65% in Q1
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.
Coal India’s capital expenditure rises 65% in Q1
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.