BCCL pays first-ever Rs 44 crore dividend to CIL
New Delhi: 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.
BCCL's Chairman & Managing Director (CMD) Samiran Dutta presented a ceremonial cheque of Rs 44.43 crore to CIL's Chairman PM Prasad in presence of senior officials of BCCL and CIL. The dividend payment was approved by BCCL shareholders at its 53rd Annual General Meeting on August 1.
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.
Dutta attributed the company’s strong financial performance and strategic progress to a consistent growth rate of 15 percent over recent years.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)
