Financial Daily from THE HINDU group of publications
Thursday, Apr 21, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 21, 2005 |
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Corporate
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Performance Western Coalfields turnover up at Rs 4,477 cr Our Bureau
Hyderabad , April 20 WESTERN Coalfields Ltd reported a provisional turnover of Rs 4,477 crore during fiscal 2004-05, an increase of Rs 595 crore over the previous year's Rs 3,882 crore. In production, the Nagpur-based public sector unit surpassed previous figures to reach an all-time high of 41.41 million tonnes during the year — 4 lakh tonnes higher than the revised target of 41 million tonnes. The original production target was 38 million tonnes. The production figures were increased in view of the rising demand from the power sector and other consumers. The growth in Western Coalfields' performance resulted in higher earnings for the State exchequer in the form of royalty and taxes, totalling Rs 536 crore during fiscal 2004-05 compared to Rs 495 crore the previous year. Western Coalfield made capital investments of Rs 200 crore on development of mines and allied infrastructure. Besides the ongoing 19 projects, with a total capacity of 10.24 million tonnes at a capital cost of Rs 740.82 crore, four new extension projects were approved during 2003-04, according to a company press release. These projects contributed 1.15 million tonnes out of the production of 41.41 million tonnes. The total despatch during the year was the highest ever, reaching 40.31 million tonnes. Last year, it was 39.20 million tonnes. Thermal power and steel plants were the main consumers.
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