Singareni Registers Rs 4000 Crore Profit in the First Half of Financial Year

Hyderabad: The Singareni Collieries Company Limited (SSCL) had registered a Rs.4,000-crore profit in the first half of the current financial year, which is Rs.1,072 crore than in the same period of the last financial year. On the whole, the company had registered 36 per cent more profits in the six-month accounting period than the previous year.

Singareni chairman and managing director N. Balram said that fiscal discipline, department-wise reviews and awareness sessions among employees had helped boost the profits. He said that the distribution of profits and providing Diwali bonus had boosted the morale of the employees.

The company earned Rs.17,151 crore through the sale of coal and another Rs.2,286 crore by selling electricity. Though heavy rain had reduced coal production in the early part of monsoon season, the output had picked up after the rains ceased. The company had set a target of producing 720 lakh tonnes of coal in the current financial year, Balram said.