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Singareni Collieries nets ₹800cr profit in first four months of FY22

Our Bureau Hyderabad | Updated on August 04, 2021

Turnover up by 72 per cent

Singareni Collieries Company registered strong growth in coal and power production in the first four months of this financial year, marking clear progress in overcoming the Covid lockdown.

The State-owned mining company achieved a turnover of ₹8,180 crore between April and July, up 72 per cent from the turnover of ₹4,748 crore achieved in the corresponding four months last year.

It earned a profit of ₹800 crore against last year’s loss of ₹303 crore in the same time frame.

While coal sales resulted in revenues of ₹6,949 crore, up by 82 per cent (₹3,816 crore), the company’s thermal power plant located near Jaipur in Mancherial district recorded sales of ₹1,231 crore, up 32 per cent from ₹932 crore.

N Sridhar, CMD, SCCL said “Singareni had taken all Covid precautions and this has helped miners work with zeal resulting in achieving set targets in the first four months.”

“Singareni has changed its market strategy and there is a nationwide demand from customers. We are on course to achieving the target of 700 lakh tonnes this year,” he added.

Published on August 04, 2021

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