Singareni eyes Rs 450 crore net profit for fiscal 2012

State-owned Singareni Collieries Company Limited (SCCL) is expecting to increase the net profit for the year ending March 2012 by at least Rs 100 crore to around Rs 450 crore despite facing production disruption of 37 days during the Telangana agitation.

The net profit for the year ending March 2011 stood at Rs 356 crore.

SCCL chairman and managing director S Narsingh Rao said this would come on the back of achieving production targets by 102 per cent to 52.21 million tonne for the year and improvement in revenues through increase in productivity, increased output of high grade coal and premium collected from APGenco and NTPC on coal supplies made in excess of linkage.

The company has also crossed the Rs 10,000-crore revenue milestone for the first time in 2011-12 as it expects to receive Rs 11,496 crore in revenues for the full year as compared to over Rs 9,000 crore in the previous year.

It has proposed a target of Rs 53.10 million tonne in coal production for 2012-13 with a terminal year target for the 12th Five Year Plan being 57 million tonne in 2016-17, according to Rao.