Singareni overtakes Maharatna companies in terms of net profit Rs.2,222 Cr as all-time record in 2022-23
Mr. N. Sridhar CMD SCCL announced that Singareni has achieved an all-time record net profit of Rs.2,222 crores in 2022-23.
With the encouragement of the Chief Minister of the state, KCR and the initiative of CM N Sridhar, the targets have been exceeded in coal production and power generation with the efforts of officials, staff and workers.
Singareni became the number one in the country by achieving an all-time record with a net profit of Rs. 2,222 crores. In this regard SCCL overtook Maharatna companies including CIL and the company got special recognition and cemented the name of Telangana in the history pages.
Singareni is number one in terms of profit growth among Maharatna companies including Coal India. Power Grid Corporation is at the second position and Coal India is at the fourth position. Singareni is known as the best company by achieving maximum sales and profits even in adverse conditions.
The Singareni company has set a new record by earning a net profit of Rs 2,222 crore in the financial year 2022-23 with a turnover of Rs 33,065 crore, the highest in its history. Chairman and MD of the company Mr.N. Sridhar proudly announced these details.
He expressed his congratulations to the workers, employees, officers and union leaders who worked hard for high productivity even in adverse conditions and achieved the highest turnover and profits.
The details disclosed by the CMD are as follows… In the last financial year 2022-23, the Singareni company earned a total gross profit of Rs.3,074 crore through the sale of coal and electricity.
Compared to the advent of Telangana, Singareni has seen remarkable growth
|Transport of coal
Meanwhile, it earned a net profit of Rs.2,222 crore after payment of taxes to the central and state governments and other taxes. This is an all time record in the history of Singareni. Compared to the net profit of Singareni in the previous fiscal year 2021-22 of Rs.1,227, the profit achieved in the last financial year is 81 percent higher.
Also, the turnover is Rs. 26,585 crores achieved in the year 2021-22, the turnover of Rs. 33,065 crores achieved in the last financial year (2022-23) is 24 percent higher.
In the last financial year (2022-23), the turnover achieved by Singareni was Rs 28, 650 crore through the sale of coal and Rs 4,415 crore through the sale of electricity.
|The Singareni Collieries Company Limited
|Power Grid Corporation
|Power Finance Corporation
|Coal India Ltd
|OIL & NATURAL CORPORATION LIMITED
|GAIL INDIA LIMITED
|Indian Oil Corporation Limited
|Steel Authority of India Limited