INSUBCONTINENT EXCLUSIVE:
Coal India, the world's largest mining company has 2,72,445 employees as of FY20Coal India has announced that it will reduce its manpower
by 5 per cent each year in the next 5-10 years to improve productivity and reduce operational costs
The company's vision is to "emerge as a global player in the primary energy sector committed to provide energy security to the country,"
CIL said in an earnings call a day after declaring its March quarter results
The world's largest mining company has 2,72,445 employees as of FY20.Coal India also said that it will close unviable mines, as part of
"Action is being taken to close the unviable mines in CIL in a phased manner
Production from 11 such Underground mines has already been suspended," CIL emphasized
As many as 158 underground mines employ 43 per cent of the workforce and contribute a mere 5 per cent of the company's total production.In
Monday, Coal India reported a 0.8 per cent decline in consolidated net profit, at Rs 4,588.96 crore, in the quarter ended March 31, 2021
The company had posted a profit of Rs 4,655.76 crore in the year-ago period.And Coal India also announced a final dividend of Rs 3.5 per
share, taking its total payout in FY2021 to Rs 16 per share.
