Singareni gross profit up by 36% in first 7 months of 2024-25

A heavy machine engaged in coal extraction in an underground mine in Singareni mines.
| Photo Credit: Special arrangement

HYDERABAD

The Singareni Collieries Company Ltd (SCCL) has put up a good performance in the first seven months of the current fiscal in monetary terms with the unaudited accounts putting the gross profit at 36% higher than the same during the first half of 2023-24.

According to officials of the coal company, the increase in profit is mainly on account of improved financial discipline with Chairman and Managing Director N. Balaram reviewing the performance almost on a daily basis with the area general managers and other key executives. The company was on course to achieve the target of 72 million tonnes of coal production in 2024-25.

The officials stated that the company had posted a revenue of ₹17,151 crore through sale of coal and another ₹2,286 crore from energy sales during the April-October period (7 months). The gross profit made from coal and energy sales during the seven months was about ₹4,000 crore and it was higher by ₹1,072 crore compared to ₹2,932 gross profit made during the first seven months of 2023-24.

The company is focusing on reducing the production cost by improving the use of machinery by increasing their work hours from 14 hours a day to 20 hours a day, particularly in Manuguru, Ramagundam-I, Yellandu, Kothagudem, Ramgundam-III and other areas. The daily production of coal, which was down to one-lakh tonnes a day during the rainy season, has improved to 2.2 lakh tonnes now, the officials said.