Singareni sees 36 pc profit increase, targets 72 million tonnes

The gross profit from these operations reached approximately Rs 4,000 crore, marking an increase of Rs 1,072 crore from the Rs 2,932 crore reported in the previous fiscal year.

Hyderabad: The Singareni Collieries Company Ltd (SCCL) has reported a significant increase in its financial performance for the first seven months of the current fiscal year, with gross profits rising by 36% compared to the same period in 2023-24.

This improvement is attributed to ‘better financial discipline’, largely driven by the proactive oversight of chairman and managing director N Balaram, who conducts daily reviews with area general managers and key executives, the company said.

During the April to October period, SCCL generated a total revenue of ₹17,151 crore from coal sales and an additional Rs 2,286 crore from energy sales.

The gross profit from these operations reached approximately Rs 4,000 crore, marking an increase of Rs 1,072 crore from the Rs 2,932 crore reported in the previous fiscal year.

To further boost production efficiency, SCCL is focusing on reducing production costs by extending machinery operating hours from 14 to 20 hours daily across several key areas, including Manuguru, Ramagundam-I, Yellandu, Kothagudem, and Ramgundam-III.

This strategy has resulted in a recovery of daily coal production from a low of one lakh tonnes during the rainy season to 2.2 lakh tonnes currently.

Looking ahead, SCCL aims to meet its ambitious target of producing 72 million tonnes of coal by 2024-25.

Despite challenges faced earlier in the fiscal year due to adverse weather conditions affecting production rates, the company is optimistic about scaling up operations in the remaining months to achieve its goals.