TS announces 30% bonus for Singareni employees

Hyderabad: Telangana Chief Minister K Chandrasekhar Rao on Wednesday announced a 30 per cent profit sharing bonus for the employees of State-owned Singareni Collieries Company Limited (SCCL).

As a Dussehra gift, the chief minister decided to give a 30 per cent share of the profits of the SCCL for the years 2021-22 to the Singareni employees.

As per the chief minister's instructions, his Principal Secretary Narsinga Rao issued an order to the Singareni chairman and managing director to pay the special incentive to Singareni workers immediately before Dussehra. As part of this, Singareni Company will pay Rs 368 crore to the eligible workers.

The profit sharing bonus announced this year is one per cent higher compared to last year. The State government had announced a 29 per cent bonus in 2021. Last year, the company had allotted over Rs 350 crore for the bonus and each National Coal Wage Agreement (NCWA) employee had received Rs 72,500 as bonus.

Singareni CMD N Sridhar had said earlier this month that the company was confident of achieving an annual turnover of Rs 32,000 crore and earning profits to the tune of over Rs 3,000 crore.