Coal India hopes to rejoin dividend list as ECL improves performance

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The story "Coal India hopes to rejoin dividend list as ECL improves performance" was covered 2 weeks ago by Business Standard, a news publisher based in India.

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Coal India hopes to rejoin dividend list as ECL improves performance - Business Standard

Quick Summary:

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.