Dhanbad: Over one lakh on-roll contract workers in Coal India will receive bonus benefits before Diwali. The Coal India Board has approved an 8.33% bonus for contract workers. A board meeting took place on Friday, and on Saturday, Gautam Banerjee, General Manager of Personnel at Coal India, issued a notification to all coal companies regarding the decision. Guidelines for disbursing the bonus to coal contract workers will be released on Monday.
It is worth noting that, on September 29, the JBCCI standardization committee in New Delhi decided to grant an 8.33% annual bonus to both regular employees and contract workers. The bonus payment order for regular employees was issued immediately, but the decision for contract workers required board approval, which was given after thorough deliberation.
BCCL Earns ₹750 Crore in Profit:
Coal India’s unit BCCL (Bharat Coking Coal Limited) earned a profit of ₹750 crore in the second quarter of this financial year. In the previous quarter, the company had achieved a profit of ₹450 crore. As for ECL (Eastern Coalfields Limited), it did not go into loss, earning a profit of ₹43 crore, though this figure was ₹347 crore in the previous quarter. The board has prepared the company’s work plan and submitted it to the Ministry of Coal for review.
Despite adverse conditions, ECL has set a profit target of ₹1,000 crore, and BCCL aims to reach ₹2,600 crore. The results announced by Coal India for the second quarter of the financial year show a 22% decline in profits.
Currently, the company has declared an interim dividend of ₹15.75 per share for the fiscal year 2024-25. Coal India’s net profit stands at ₹6,274.80 crore, down from ₹8,048.64 crore in the same quarter last year.
BCCL’s profit of ₹750 crore in the second quarter exceeded that of the previous quarter. The target for BCCL is to reach ₹3,000 crore in profit. Despite challenging conditions, ECL has been tasked with exceeding its coal production target to achieve a profit of ₹1,000 crore.
— Sameeran Dutta, CMD, BCCL/ECL
