The Hindu Business Line : Singareni Collieries exceeds output targets for 2007-08

Hyderabad, April 4 Singareni Collieries Company Ltd has recorded sales revenues of Rs 5,157 crore with profit before tax of Rs 270 crore for the financial year ended March 31, 2008 against total sales income of Rs 4,140 crore and profit before tax of Rs 117 crore last fiscal.

The state-owned collieries exceeded the targets set by both the Government and internally by registering record production of 40.60 million tonnes for 2007-08 against target of 40.5 mt, reflecting over 100 per cent targeted production.

The production this fiscal was higher by 8 per cent, which is also the highest amongst coal companies and higher than the national average of 4.7 per cent.

The company has set a target of 43.56 mt for 2008 with 30.25 mt from opencast and 13.3 mt from underground mines.

The Chairman and Managing Director of SCCL, Mr S. Narsing Rao, said “this is the highest ever production achieved by SCCL in its 119 year history. The company in the sixth consecutive year achieved the coal production targets after a spectacular turn around.”

Addressing a press conference here, Mr Rao said this growth was due to all round improved performance and significantly led by higher output from underground mines. “From a decelerating production from underground mines, we have managed to change course and this has resulted in 6.7 per cent higher output this year,” he said.

The company’s productivity measured as output per man shift overall mines in 2007-08 has been 2.64 tonnes with 10 per cent achievement with a growth rate of 9 per cent over the year 2006-07.

Safety record

The output in underground mines crossed the psychological barrier of one tonne per man shift and reached 1.02 tonne per man shift. The company has improved its safety record accounting for 11 deaths against 19 in the previous fiscal. The safety has gone up in the underground mines.

Referring to dispatches, Mr Rao said the company dispatched 41.8 mt of coal during 2007-08, of this 71.3 per cent has been dispatched to power sector. Significantly, the year passed by without any strikes.

SCCL is set to take up new greenfield open cast mine at Dorli and another mine at Kakatiya Khani to meet the coal requirement for AP Transco’s 500 MW Bhupalapali unit.

The company is also in the process of finalising plans for 500 MW coal plant in Jaipur mandal of Adilabad in the State.

More Stories on : Performance | Coal | Andhra Pradesh

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