SCCL records 78pc growth in first quarter
Singareni's turnover through sale of coal is Rs 5,393 crore with profit at Rs 394.89 crore, an increase of 89.16 per cent during this year’s first quarter,
Hyderabad: Despite the Covid-19 pandemic, the Singareni Collieries Company Limited (SCCL) has registered a profit of Rs 663.23 crore in the first quarter of the 2021-22 financial year, achieving a turnover of Rs 6,337 crore through sale of coal and power, recording an increase of 78 per cent over the first quarter profits of last year.
Singareni’s turnover through sale of coal was Rs 5,393 crore with profit at Rs 394.89 crore, an increase of 89.16 per cent during this year’s first quarter, SCCL Chairman and Managing Director N Sridhar said on Thursday.
During the first quarter of last financial year, the company’s coal sales was worth Rs 2,851 crore. Taking into consideration the experiences of the last financial year, Singareni had geared up to meet the challenges and registered coal production of 15.57 million tonnes and dispatched 16.7 million tonnes of coal to earn profits. Similarly, the Singareni thermal power station in Jaipur in Mancherial district had done record sales of Rs 944 crore during this year’s first quarter when compared to Rs 711 crore sales in last year’s first quarter recording a growth of 32.83 per cent. In all, Singareni earned a total of Rs 663.32 crore profits during the first quarter.
Attributing profits to the team work and dedication of the staff and coal miners in particular, Sridhar asked employees to achieve the targeted coal production and dispatch during this financial year. During the last financial year, there was steep decline of the demand for coal in various industries due to lockdown and affected the coal production and dispatches.
The Singareni management has launched special measures to check the spread of the deadly virus in the coal belt regions by taking up massive vaccination drive and providing proper medicare to miners. The measures taken up by the management had instilled confidence among employees and miners and helped in the steady increase of coal production this year.
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