Companies

Singareni Colleries staff to get a share of 29% in profits as bonus

Our Bureau Hyderabad | Updated on October 05, 2021

Chief Minister directs Chairman to make payment before the Dasara festival

The employees of Singareni Colleries Company Limited (SCCL) will get a share of 29 per cent in the company’s profits as bonus before Dasara.

“This is one percentage point higher than that of the share they received last year,” a statement Chief Minister’s Office has said.

Reviewing the performance of the company at the Pragati Bhavan on Tuesday, Chief Minister K Chandrashekar Rao has directed Singareni Colleries Chairman and Managing Director N Sridhar to make the payment before the Dasara festival.

The Chief Minister has said that there is a need for the company to expand its operations and foray into the mining of iron and limestone.

Last year around the same time, the employees get a share of about ₹280 crore as bonus out of the total profits of ₹994 crore that it earned the previous year.

Published on October 05, 2021

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