SCCL creates history by achieving 15% growth
Hyderabad, April 1 (INN): Singareni Collieries Company Limited (SCCL) Managing Director N. Sridhar has informed that the company has achieved 60.3 MT of coal production and achieved 15% growth over last year.
Addressing a press conference here on Friday, Sridhar said that it was the highest ever growth in 127 years of SCCL history. As against the average growth of 3% in last five years, this year the company has achieved the growth rate of 15%. He also informed that the company has dispatched 58.5 MT of coal with 11.5% growth rate over last year. This was the highest ever dispatches in SCCL history and second highest among all companies in India.
The SCCL CMD informed that this year the company has paid Rs. 2,151 to State Government and Rs. 2,500 crore to Central Government towards VAT and other taxes. He said of 47 mines, 30 were still running in losses. However, the profit from other 17 mines is so huge that that the SCCL is booking profits every year. He said that the company has reduced the cost of production from Rs. 2,000 to Rs. 1,768 per tonne. As against the profit of Rs. 460 crore last year, this year the company is likely to achieve profits of nearly Rs. 1,000 crore.
Sridhar informed that that SCCL would make investments of nearly Rs. 20,000 crore to open 25 new mines. He said that the company has recently provided jobs to nearly 5,000 people.
Hyderabad, April 1 (INN): Singareni Collieries Company Limited (SCCL) Managing Director N. Sridhar has informed that the company has achieved 60.3 MT of coal production and achieved 15% growth over last year.
Addressing a press conference here on Friday, Sridhar said that it was the highest ever growth in 127 years of SCCL history. As against the average growth of 3% in last five years, this year the company has achieved the growth rate of 15%. He also informed that the company has dispatched 58.5 MT of coal with 11.5% growth rate over last year. This was the highest ever dispatches in SCCL history and second highest among all companies in India.
The SCCL CMD informed that this year the company has paid Rs. 2,151 to State Government and Rs. 2,500 crore to Central Government towards VAT and other taxes. He said of 47 mines, 30 were still running in losses. However, the profit from other 17 mines is so huge that that the SCCL is booking profits every year. He said that the company has reduced the cost of production from Rs. 2,000 to Rs. 1,768 per tonne. As against the profit of Rs. 460 crore last year, this year the company is likely to achieve profits of nearly Rs. 1,000 crore.
Sridhar informed that that SCCL would make investments of nearly Rs. 20,000 crore to open 25 new mines. He said that the company has recently provided jobs to nearly 5,000 people.
News Posted: 1 April, 2016
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