BCCL Pays First Dividend: Rs 44 Cr to CIL

Aug 04, 2024 18:08

Bharat Coking Coal Limited (BCCL) paid its inaugural dividend of Rs 44.43 crore to Coal India Limited (CIL), marking a significant milestone after clearing accumulated losses.

Photograph: Amit Dave/Reuters

Kolkata, Aug 4 (PTI) Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited (CIL), paid its first-ever dividend of Rs 44.43 crore to its parent company on Sunday.

This milestone follows BCCL's achievement of clearing its accumulated losses and reporting a net profit of Rs 1,564 crore for the financial year 2023-24, with a turnover of Rs 13,216 crore.

BCCL chairman-cum-managing director Samiran Dutta formally handed over the dividend to CIL chairman P M Prasad at a ceremony. The dividend payment was approved by BCCL shareholders at its 53rd Annual General Meeting on August 1.

Dutta attributed the company's strong financial performance and strategic progress to a consistent growth rate of 15 per cent over recent years.

Source: PTI

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BCCL Pays First Dividend: Rs 44 Cr to CIL

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