Other income saves the day for Singareni

Other income like surface transport charges being collected at Rs 25-30 per tonne from customers besides interest it receives on bank deposits

The average cost of production of coal at Singareni Collieries Company Limited (SCCL) during the year ending March, 2013 was higher by Rs 6 per tonne over the average sales realisation. It was the same in the previous year.The company is jointly owned by state and central governments in a ratio of 51:49 per cent equity,

The average cost of production and the average sales realisation stood at Rs 1, 838 per tonne and Rs 1,832 per tonne respectively while the same in 2011-12 was Rs 1,697 and Rs 1,691. The difference between the cost and realisation remained constant as the average cost and the average sales realisation rose exactly by Rs 141 per tonne, a company release stated on Tuesday.
 

However, the company would be in profits after taking into account the other income such as surface transport charges being collected at Rs 25-30 per tonne from customers besides the interest it receives on bank deposits, according to a senior official of Singareni.

The company is yet to compile the financials for the year.

It registered 1.9 per cent increase in coal production at 53.19 million tonnes for 2012-13 as compared with 52.21 million tonnes in the previous year. Of the total production, 41.59 million tonnes was from opencast mines while the remaining 11.60 million tonnes came from underground mines, together achieving 100 per cent target set for the year.

The company proposes to achieve a production target of 54.30 million tonnes during the current financial year partly on the back of three new projects it expects to commission in 2013-14, the release said.