SCCL achieves notable growth in 9 months

Khammam: Singareni Collieries Company Limited (SCCL) earned a record-breaking profit of Rs.1070 crores (Profit before tax) in the 1st three quarters of this financial year, informed Chairman and Managing Director of the company N Sridhar. On Saturday, he revealed the details of the profit earned by the company. He informed that last year in the same period Singareni suffered loss of Rs.842 crores and this year achieved a growth of 227% due to the tremendous turnover.

He also informed that last year in the 1st 9 months turnover of coal and power together was Rs.11986 crores and this year by end of December, turnover achieved was Rs. 19000 crores thus recording a growth of 58%. He recalled that last year turnover of coal was only Rs. 9525 crores and this year despite the covid situation and increase in the production and transport, SCCL achieved sales of Rs. 16,110 crores with a growth of 69%.

Last year in the 1st 9 months, 318 lakh tonnes of coal was transported and this year 484 lakh tonnes of coal were transported with a growth of 52% thus achieving notable growth in sales.

MD Sridhar congratulated the officials and staff for achieving notable growth in turnover and profits. He said that in the balance three months, there is going to be a growth in power consumption and hence coal production and power generation has to increase and with this SCCL is all set to achieve a record breaking turnover of Rs. 27 thousand crores, he added. He said that machinery utilization in open cast projects must be maximized in all areas and the officials and workers have to work with dedication to achieve mine wise targets.