SCCL earns record Rs 1,070 crore profit
Hyderabad: Singareni Collieries Company Limited (SCCL) has earned a record Rs 1,070 crore profit in the first three quarters of this financial year. Last year for the same period, Singareni suffered a loss of Rs 842 crore. According to a release, last year, in the first nine months, the turnover of coal and power together […]
Hyderabad: Singareni Collieries Company Limited (SCCL) has earned a record Rs 1,070 crore profit in the first three quarters of this financial year. Last year for the same period, Singareni suffered a loss of Rs 842 crore. According to a release, last year, in the first nine months, the turnover of coal and power together was Rs 11,986 crore and this year by end of December, the turnover was Rs 19,000 crore.
Last year, turnover of coal was only Rs 9,525 crore and this year, despite Covid, increased production and transport achieved sales of Rs 16,110 crore with a growth of 69 per cent. Last year, in the first nine months, 318 lakh tonnes of coal was transported and this year, 484 lakh tonnes of coal was transported with a growth of 52 per cent thus achieving notable growth in sales.
Singareni thermal power plant also achieved better turnover as compared to last year. Last year, in the first three quarters, 5,353 million units of power was generated and this year, in the first nine months, 6,904 million units of power was generated with a growth of 30 per cent.
Last year, the sales were Rs 2,461 crore and this year, in the first nine months, the sales were Rs 2,892 crore with a growth of 17 per cent. SCCL Chairman and Managing Director N Sridhar congratulated officials and staff for achieving notable growth in turnover and profits and added that in the balance of three months there was going to be a growth in power consumption.
Hence, coal production and power generation have to increase. With this, Singareni is all set to achieve Rs 27,000 crore profits. He said the machinery utilisation in open cast projects must be maximised in all areas and the staff has to work with dedication to achieve mine-wise targets.
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