Singareni achieves record turnover of Rs 14,067 crore and earns Rs 868 crore profits
K M Dayashankar
HYDERABAD: The Singareni Collieries Company Limited has achieved 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 had posed a growth rate of 65 per cent in turnover, 78 per cent growth rate in the sales, 18 per cent growth in sale of electricity and 177 per cent growth in profits over the last financial year. The Singareni is all set to achieve record growth rate in terms of profits, sales, turnover and despatch of coal to various companies during this financial year.
In a press release here on Saturday, SCCL chairman and managing director N Sridhar said that they had achieved a turnover of Rs 14,067 crore till October, 2021 during this financial against the turnover of Rs 8537 crore last year. The company, which had seen losses to the tune of Rs 1129 crore during the last financial year due to the outbreak of deadly virus, had overcome the crisis by taking up vaccination of all the employees and coal miners and earned profits of Rs 868 crore in the first seven months of this financial year.
The company had steadily increased its coal sales following the demand in the country. Last financial year, it had sold only Rs 6678 crore in the first seven months. This year, it had sold coal worth Rs 11,855 crore with growth rate of 78 percent. Similarly, the electricity sales had also increased from Rs 1860 crore to Rs 2182 crore during this financial year with 18 per cent growth.
Following the constant monitoring and reviewing of the production, despatches etc, the coal production had increased from 220 lakh tonnes during the last year to 353 lakh tonnes with 60 per cent growth over last year. The Singareni had also generated about 5291 million units of power during the first seven months of this year when compared to 3819 million units of power last year.
The Chairman said that the Singareni would achieve all time record in all aspects including turnover, production, power generation and sales by the end of this financial year on March 31, 2022. He said that the company would meet the coal requirements of all the industries such as thermal power stations in the country.
