Singareni Collieries’ profit grows by 203 per cent

HYDERABAD: Singareni Collieries Company Limited (SCCL) registered a whopping 203 per cent growth in profit, earning about Rs 1,200 crore in the financial year 2017-18. The coal mining company, which is also into power production, bettered its performance over the previous financial year, both in case of coal dispatch and burden removal. Robust performance of Singareni Thermal Power Plant (STPP) situated at Jaipur in Telangana also contributed to its growth.

“Singareni set new records in FY18 by dispatching 646 lakh tonnes of coal, registering a 6.2 per cent increase. We removed 396 million cubic metres of Over Burden, registering 26.9 per cent rise over previous year. This led to a record turnover of Rs 22,667 crore and a profit of Rs 1,200 crore. We are planning to grow at the same pace over the next five years and will spend about Rs 12,000 crore for developmental activities and future plans,” said N Sridhar, CMD of SCCL.

Stressing that 13 new projects will be taken up over the next five years, Sridhar further said that the coal production would be increased from 650 lakh tonnes to 850 lakh tonnes, targeting a turnover of about Rs 34,000 crore over the five-year period.

Besides being one of the leading players in coal production, SCCL is also making strides in power generation with STPP. The 18-month-old STPP achieved 91.1 per cent Plant Load Factor, producing 9,575 million units of power in the FY18, contributing about Rs 400 crore to SCCL’s profit. SCCL management aims to generate 2,500 Megawatt power from STPP in the next five years.