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.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.