In the black after 27 red years

IT HAS taken 27 years but India’s Singareni Collieries Company finally posted a net profit for the first time for the 2003/04 financial year.
In the black after 27 red years In the black after 27 red years In the black after 27 red years In the black after 27 red years In the black after 27 red years

Godavari Valley Coal Fields, courtesy Singareni Collieries Company

Angie Tomlinson

The exact profit has yet to be released but the company told The Hindu it would be finalised soon after the declaration of dividend.

The company focuses its activities in the Godavari Valley of Andhra Pradesh and is the oldest public sector coal company in India. It operates 61 underground and 12 opencast mines located in Adilabad, Karimnagar, Warangal and Khammam districts.

On the back of its first net profit, Singareni has also put forward a proposal to government to open 25 new mines by 2017.

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