SCCL ridicules talk of debt-trap, says it earns ₹ 2k crore net profit
![SCCL ridicules talk of debt-trap, says it earns ₹ 2k crore net profit SCCL ridicules talk of debt-trap, says it earns ₹ 2k crore net profit](https://s3.ap-southeast-1.amazonaws.com/images.deccanchronicle.com/dc-Cover-0b328hg3sehku2khp5kbabpgk1-20230419221151.Medi.jpeg)
Singareni is moving ahead with continuous profits and spending ₹ 3.15 lakh per annum on each worker's welfare said a press release. (Photo: Facebook)
Hyderabad: Singareni Collieries Company Limited (SCCL) has deposits to the tune of ₹ 11,665 crore from which it gets ₹ 750 crore interest annually. With a turnover of ₹ 32,000 crore, it enjoys financial stability, a release from the company said here on Wednesday.
Scoffing rumours that it was in a debt-trap, they said that Singareni was, in fact, registering ₹ 2,000 crore net profit from actual earnings of ₹ 27,000 crore. Since the formation of Telangana state, Singareni is moving ahead with continuous profits and spending ₹ 3.15 lakh per annum on each worker’s welfare, the release said.
( Source : Deccan Chronicle. )
Next Story