SCCL achieves turn over of 14,067 crore

Hyderabad: Singareni Collieries Company Limited (SCCL) has achieved a record turnover of Rs.14,067 crore and earned profits to the tune of Rs.868 crore in the first seven months of this financial year. The company registered a growth rate of 65 per cent in turnover, 78 per cent growth rate in sales, 18 per cent growth […]

Hyderabad: Singareni Collieries Company Limited (SCCL) has achieved a record turnover of Rs.14,067 crore and earned profits to the tune of Rs.868 crore in the first seven months of this financial year.

The company registered a growth rate of 65 per cent in turnover, 78 per cent growth rate in sales, 18 per cent growth in sale of power and 177 per cent growth in profits over the last financial year, according to SCCL Chairman and Managing Director N Sridhar.

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He said the Singareni was all set to achieve record growth rate in terms of profits, sales, turnover and dispatch of coal to various companies during this financial year.

Sridhar said they had achieved a turnover of Rs.14,067 crore till October 2021 during this financial year as against the turnover of Rs.8,537 crore for the same period last year.

The company, which had seen losses to the tune of Rs.1,129 crore during first seven months of the last financial year due to outbreak of Covid-19, had overcome the crisis by administering vaccine to all employees and coal miners and earned profits of Rs.868 crore in the first seven months of this financial year.

The Singareni will create new records in production, dispatches and turnover, Sridhar said.

He said the company steadily increased its coal sales following the demand in the country. Last financial year, it sold only Rs.6,678 crore in the first seven months. This year, it sold coal worth Rs.11,855 crore with a growth rate of 78 percent.

Similarly, the power sales had also increased from Rs.1,860 crore of last year to Rs. 2,182 crore during this financial year with 18 per cent growth.

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