Particle.news

Download on the App Store

Singareni Posts ₹6,394-Crore Profit, Declares 34% Bonus as Expansion Outlay Rises

State leaders cast the payout as proof of a growth plan that counters privatisation pressures.

Overview

  • ₹819 crore has been earmarked for employee bonuses from the FY2024-25 results, with about 41,000 regular staff set to receive roughly ₹1.95 lakh each and around 30,000 contract workers ₹5,500.
  • Of the reported profit after tax, ₹4,034 crore will be retained for expansion, with the 34% payout calculated on the remaining ₹2,360 crore.
  • The announcement was timed for the festive season, with officials highlighting workers’ role in Telangana’s statehood and pledging continued support for the company.
  • SCCL leaders cited recent asset additions and advisory support, including the Naini coal block in Odisha, gold and copper rights in Karnataka, and consultants PwC and KPMG to map expansion.
  • Unions led by TBGKS dispute the profit-sharing method, seek a 35% share on actual net profits, and allege underpayment in the previous year.