Coal India hopes to rejoin dividend list as ECL improves performance

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Coal India aims to eliminate Rs 2,200 crore in accumulated losses at its subsidiary, Eastern Coalfields Ltd (ECL), and to rejoin the dividend list by FY 2025-26, a top official said on Sunday.

We expect to eliminate two-thirds of its Rs 2,200 crore accumulated losses this fiscal year, with the remaining losses cleared by the following year, allowing it to rejoin the dividend list," Prasad said.

At the foundation day event, Coal India chairman P M Prasad said Bharat Coking Coal Ltd, another previously loss-making subsidiary, has already re-entered the dividend list.

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Category: BusinessFinance

Markets: India

Topics: Ministry of Coal Eastern Coalfields Ltd Foundation day COAL INDIA G Kishan Reddy Loss-making subsidiary Coal India Prasad Bharat Coking Coal Ltd Eastern Coalfields Gevra mine Dividend Chairman NIFTY 50 South eastern coalfields Coal (NEC) Coal Minister Coke Coal Mining Official

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Article Type: News Report

Published On: 2024-11-03 @ 19:40:42 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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Copyright Owner: © Business Standard

News ID: 23379753

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