CCL posts Rs.10 bn profit in 2007-08

April 1st, 2008 - 6:25 pm ICT by admin  

Ranchi, April 1 (IANS) The Central Coalfield Ltd. (CCL) has posted Rs.10-billion profit in the financial year 2007-2008. “(The) company has posted profit of Rs 1,000-crore (Rs.10 billion) in 2007-08 financial year,” R.P. Ritolia, chairman and managing director of the CCL, told reporters Tuesday.

“This was third successive year that the company has posted a profit of Rs.1,000 crore .”

The Ranchi based CCL is a subsidiary of the central government-run Coal India Ltd.

“The CCL produced 44.2 million tonnes of coal in the 2007-2008 financial year which is 7.2 percent higher than the previous year,” Ritolia said.

“During 2007-2008, the gross turnover of the company touched Rs.5,042.83 crore (50.42) against Rs.4,506 crore (45.06 billion)in 2006-2007 financial year. This way CCL has registered growth of around 12 percent,” said Ritolia.

During the last financial year, CCL paid 1,265 crore (12.65 billion) corporate taxes including royalty of Rs.485 crore (4.85 billion) to the state government.

“For 2008-2009, we have set a target of 47 million tonne coal production. Around 44.74 million tonnes will be extracted from open caste mines and rest from underground mines,” said Ritolia.

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