SCCL earns Rs. 184.63 Crores profit
Hyderabad, September 10, 2006The State Government will disburse 12 per cent of the profit earned by Singareni Collieries Company Limited (SCCL) as a special incentive to its 83,000 employees. SCCL earned Rs. 184.63 crore profit during the year 2005-06 and accordingly a special incentive to the tune of Rs. 22.15 crore would be paid to the employee said the Energy Minister Mohd Ali Shabbir. Speaking to reporters, that the SCCL earned a net profit of Rs.361 crore during 2004-05 managed to make only 184 crore during the last financial year due to various reasons. He said that the company incurred an additional expenditure of Rs. 163 crore during the previous financial year for opening new mines in addition to the implementation of the VII Wage Board recommendations. He further said that the outdated technology would be replaced by advanced mining technology to minimize accidents rate.
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