HYDERABAD: In what can be described as a special Dasara gift, Chief Minister K Chandrasekhar Rao on Wednesday announced 30 per cent share of Singareni Collieries Company Limited’s 2021-22 profits to its employees as bonus.As per the Chief Minister’s instructions, the State government issued orders to SCCL Chairman and Managing Director N Sridhar to ensure payment of special incentive to the employees before Dasara festival.
Around 44,00 eligible employees of SCCL will receive a total of Rs 368 crore bonus on October 1. In 2021-22, the SCCL’s turnover was Rs 26,607 crore and the profit before tax was Rs 1,722 crore. The target of SCCL this year is to produce 70 million tonnes of coal.
The SCCL CMD said that the company paid Rs 3,596 crore to Central and State government in taxes in 2021-22. The net profit of SCCL in 2013-14 was Rs 419 crore and it increased by 193 per cent to Rs 1,227 in 2021-22.
UNION DEMANDS 35% SHARE
Singareni Coal Mines Trade Union of Bharath Mazdoor Sangh chief Yadagiri Sattaiah demanded that the manage-ment should announce the actual profits earned by the company in 2021-22 and immediately distribute 35 per cent share to the workers