The Telangana government has announced that, Singareni Collieries Company Limited (SCCL) employees will be paid a 34% profit share bonus from the net profits earned by the Singareni company in the financial year 2024–25 in press conference held at the Secretariat, State Chief Minister A. Revanth Reddy and Deputy Chief Minister Sri Bhatti Vikramarka Mallu announced Singareni’s net profits and revealed the profit share.
Singareni company earned net profits of ₹6,394 crore in the last financial year, of which ₹4,034 crore was allocated for new projects undertaken by the company.
The remaining ₹2,360 crore was used to declare a 34% profit share bonus amounting to ₹819 crore. Under the 34% profit share bonus, around 41,000 workers in Singareni will receive an average of ₹1,95,610 each.
Compared to last year, each employee will receive ₹8,289 more, which is a 4.4% increase. Last year, the average bonus paid to each worker was ₹1,87,321.
Additionally, for 30,000 contract workers working in Singareni, a bonus of ₹5,500 has been announced this year. It was mentioned that last year, for the first time in Singareni’s history, Govt has announced a bonus of ₹5,000 to contract workers.
Singareni Chairman and Managing Director Sri N. Balram, welcoming the dignitaries, said that with the support of the Chief Minister and Deputy Chief Minister, Singareni has acquired the Naini block in Odisha under State Government and entered the critical mineral sector.
He stated that with the state government’s permission, new coal blocks will soon be acquired through auction and that Singareni will undertake many expansion projects with government support.
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