Central Coalfields profit doubles to Rs1500 crore

Central Coalfields Ltd today announced a profit of Rs1,500 crore in the 2009-2010 financial year. ''The profit in 2009-2010 has almost doubled from the previous year's profit of Rs763.80 crore,'' R K Saha, CCL chairman and managing director, told newspersons in Ranchi. 

He said the company produced 47 million tonnes of coal against a target of 46.1 million tonnes for the year.  ''Coal production could have touched 48 million tonnes if the Maoists had not called a 35-day strike,'' he added. 

For the current 2010-11 financial year, CCL has set a production target of 50 million tonnes. Saha said the net worth of the company had gone up to Rs2,644 crore.

On a sporting note, Saha reiterated that CCL was ready to fulfil Indian cricket captain Mahendra Singh Dhoni's dream project of setting up a cricket academy in his home town here. CCL would help Dhoni in every respect in his endeavour, he said.

CCL and Dhoni had agreed to set up the academy a couple of years ago, provided the cricketer gets land from the Jharkhand government, said another senior CCL official. Dhoni's cricketing engagements have so far stalled the process of setting up the academy, he added.