Telangana: Singareni Earns Profit Of Rs.868 Crore In Just Seven Months

Singareni is on the profit side. There is an increase in the production of coal when compared to last year. Singareni had a profit of Rs 272 crore last year. According to the latest reports, Singareni had made a profit of Rs 868 crore this year. In the last seven months, Sinagreni made Rs.14,067 crore sales and it looks like Singareni is sketching out plans to sell coal and electricity in the future. 

Every year, Singareni discloses profits only after the end of the financial year but this time, the company has previously declared profits related to the first four months. Last year, by the time of October, the company had made Rs. 8,537 crore sales and in 2021 to date, it has been increased to 65 %. The company has solved all the problems created due to the COVID-19 pandemic and got profits in the first seven months itself. The production of coal was affected last year due to the coronavirus pandemic.

Last year, Singareni incurred a loss of Rs 1,129 crore, and this year, by the end of the financial year, it had made a profit of Rs 272 crore.  However, the company has sold coal worth Rs 11,855 crore and electricity worth Rs 2,182 crore to date. The officials of Singareni expect further growth in the next five months.

The pressure on Singareni has increased as the demand for coal in the country has increased in the last few months. Singareni has set new targets so as to meet the demand. The central government also ordered to produce 12,000 tonnes of coal. Singareni is likely to earn Rs. 500 crores of profit in the next five months.