HYDERABAD: The Singareni Collieries Company Limited has begun distributing Diwali festival bonus amount to employees. The company sanctioned `270 crore for the bonus under performance-linked reward scheme.
The bonus was distributed to eligible employees in four districts on Friday. Every employee received `48,500. The amount was directly deposited in their bank accounts.
SCCL chairman N Sridhar formally handed over cheques to five senior employees at an event held at Singareni Bhavan here on Friday.
Addressing the employees, he said, “SCCL will achieve 10 pc growth rate in this financial year. More bonuses will be given if more profits are achieved.” The coal company registered 26 pc higher production in this financial year. The production, which stood at 298 lakh tonnes in October 2014, reached 322 lakh tonnes in 2015.