TBGKS demands 35 per cent profit share for Singareni workers
The Telangana Boggu Gani Karmika Sangham has demanded a 35 per cent profit share for Singareni Collieries employees in 2024-25. The union alleged workers lost Rs. 2 lakh each last year after deductions from net profit, and urged immediate disclosure of company earnings
Kothagudem: The Telangana Boggu Gani Karmika Sangham (TBGKS) has stepped up its demand regarding the profit share for employees of Singareni Collieries Company Limited (SCCL) for the financial year 2024-25.
The union leaders have asked the company to disclose the actual profits earned in 2024-25 and declare a 35 per cent profit share on the net profit. The demand comes amid allegations that the company paid only 16.90 per cent as special incentive for 2023-24, despite announcing a 33 per cent profit share for employees.
TBGKS State general secretary Kapu Krishna told Telangana Today that the company earned Rs. 4,701 crore profit in the previous year. However, Rs. 2,289 crore was set aside for expansion. After deducting this amount, the company calculated the profit share on the remaining Rs. 2,412 crore, which came to Rs. 796 crore, though the actual profit share should have been around Rs. 1,550 crore, he said.
As a result, the workers were paid only 16.90 per cent share, which he termed as depriving them of their rightful earnings. Each worker lost about Rs. 2 lakh due to the management’s decision, he added.
Krishna recalled that in 2022-23, when the BRS was in power, the then Chief Minister K Chandrashekhar Rao had announced a 32 per cent bonus to workers. It was the highest bonus in the company’s history. That year, SCCL earned Rs. 2,222 crore profit and the bonus was paid without any deduction. During the BRS regime, the bonus was gradually increased from 16 per cent to 32 per cent, and it was always calculated on the net profit, he pointed out.
He demanded that SCCL management declare the profits for 2024-25 immediately and pay a 35 per cent bonus without any deduction from the net profit. He also sought abolition of income tax for workers and suggested that the company should bear the tax on perks.
