Singareni posts 189 percent growth in profits in eight months
K M Dayashankar
PEDDAPALLI: The Singareni Collieries Company Limited has posed a growth rate of 189 percent in profits and 63 percent growth in coal sales during the last eight months period of this financial year.
The Singareni had made sales of Rs 16,512 crore and earned profits of Rs 924 crore during the eight months period. During the last financial year in the first eight months, the company had sold only Rs 10,127 crore worth coal.
In a press note here today, Singareni chairman and managing director N Sridhar congratulated the coal miners of the Singareni for making steady progress in the coal production, sales and making profits beating the Coal India and other coal companies in the country. Overcoming the pandemic situation when compared to the last financial year, the Singareni had made record sales of Rs 16,512 crore during the first eight months of this year, he stated.
The Singareni which had seen the losses to the tune of Rs 1,038 crore following the pandemic virus had made record profits of Rs 924 crore during the last eight months period, which was another record in making profits, he stated.
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