Hyderabad: The Singareni Collieries Company Limited (SCCL) has earned a record profit of Rs 1212 crore after taxes during 2017-18 registering a staggering growth of 207 per cent in profits in the preceding year. The earnings after tax during 2016-17 were Rs 395 crore, according to SCCL Chairman and MD N. Sreedhar here on Wednesday.
This announcement was made after a meeting of the board of directors held in Hyderabad on Wednesday. The chairman disclosed that the SCCL would shortly announce the productivity linked bonus for the workers after consultations with the Chief Minister K. Chandrashekhar Rao. He attributed the record earnings to the untiring efforts of workers, supervisory staff and senior officials.
Air conditioners in SCCL quarters
The SCCL board has also cleared a proposal to install air conditioners in all the quarters of miners in the SCCL colonies at a cost of Rs 60 crore. Instructions were being issued to take up the works on war footing for installation of air conditioners, wiring, switch boards and transformers, the SCCL press release said. The board had also cleared several proposals for purchase of equipment and other works pertaining to underground mines and opencast ones too.
The board meeting presided by the chairman and MD N. Sreedhar was attended by directors S Shankar, S. Chandrashekhar, Finance principal secretary K. Ramakrishna Rao, Western Coal Fields Chairman and MD RR Mishra, Union Coal Ministry director Sayeed Ashraf, general manager M. Narsimha Reddy and company secretary Guna Srinivas.