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Mon, Oct 14, 2019 | Last Updated 3:58 am IST

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Singareni Collieries Workers Diwali gift from Telangana CM

Singareni Collieries Workers Diwali gift from Telangana CM
Singareni Collieries Workers Diwali gift from Telangana CM
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hyderabad sources reported that the Telangana government on Thursday announced a 28 per cent share in the profit of Singareni Collieries Company Limited (SCCL) to its employees for 2018-19. Recently Chief Minister K. Chandrasekhar Rao announced in the state legislative Assembly that each employee will get a bonus of Rs 1,00,899, which is Rs 40,530 more than the last year's bonus and he said that this is Telangana government's dussehra festival gift for the employees of SCCL.

Singareni Collieries Workers Diwali gift from Telangana CM

Furthermore the company, owned by the Telangana government and the Centre on a 51:49 equity basis, earned record net profit of Rs 1,765 crore during 2018-19. Earlier in 2017-18, each worker was paid Rs 60,369 as part of the 27 per cent profits shared with the workers and the company, which has a workforce of over 56,000, had clocked a net profit of Rs 1,212 crore in 2017-18.



Moreover he pointed out that the company, which had produced 50.47 million tonnes of coal in 2013-14, had been increasing production every year. Reportedly in 2018-19, the coal production went up to a record level of 64.41 million tonnes and the net profit grew from Rs 418 crore in 2013-14 to Rs 1,765 crore in 2018-19. kcr, as Rao is popularly known, said the public sector undertaking is playing a key role in the development of Telangana.


Singareni Collieries Workers Diwali gift from Telangana CM
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