Coal India Limited (CIL) subsidiary Bharat Coking Coal Limited (BCCL) distributed Rs 44.43 crore, its first-ever dividend, to its parent firm on Sunday.
This significant achievement comes after BCCL cleared its debt and declared a net profit of Rs 1,564 crore on a turnover of Rs 13,216 crore for the fiscal year 2023–24.
In a solemn ceremony, CIL chairman P M Prasad received the dividend from BCCL chairman-turned-managing director Samiran Dutta. At its 53rd Annual General Meeting on August 1, BCCL shareholders authorised the dividend payment.
Dutta credited the company’s steady growth rate of 15 percent over the past few years for its solid financial performance and strategic advancement.