HYDERABAD, SEPTEMBER 20, 2024: Telangana Chief Minister A Revanth Reddy has announced a 33 profit-sharing bonus for the employees of the state-owned Singareni Collieries Company Limited on the eve of the ensuing Dasara festivities on Friday.
Incidentally, each Singareni employee would be getting an average of Rs 1.90 lakh as a Dasara bonus during this year, which is the highest-ever announcement so far in the history of Singareni. Apart from regular workers, this time, contract workers have also announced a Rs.5,000 bonus each.
Addressing media persons here on Friday, Deputy Chief Minister Mallu Batti Vikramarka said in the 2023-24 financial year, the Singareni Collieries Company Limited recorded a profit of Rs.4,701 crore. Of these, about 33 per cent, which works out to Rs.796 crore was being announced as Dasara bonus for the workers, he said. “For the first time nearly 25,000 contract workers were also getting Dasara bonus,” Bhatti Vikramarka said.
Compared to last year, this time, the bonus component increased by Rs.20,000 from Rs.1.70 lakh to Rs.1.90 lakh, the Deputy Chief Minister said, adding that the decision was taken after involving recognized unions and SCCL management.
It may be recalled that the then government had announced 10 per cent of profits as a bonus in the years 1900-2000 when the Singareni earned profits of Rs 300 crore amounting to Rs 30 crore. Out of which, each employee secured a bonus of only Rs 2,782. Thanks to the efforts made by the employees, the bonus profits had increased from 20 per cent in the year 2013-24 to 33 per cent in the year 2023-24. Deputy CM Mallu Batti Vikramarka, Ministers Sridhar Babu, Ponnam Prabhakar, Seethakka, Ponguleti Srinivas Reddy, Komatireddy Venkat Reddy, Uttam Kumar Reddy, D Rajanarasimha, Tummala Nageshwar Rao, Jupalli Krishna Rao and others were also present.
