The management of the Singareni Collieries Company Limited (SCCL) has released Rs 711 crore as Dasara bonus to its employees.
Each employee will get Rs 1.53 lakh as festival bonus.
Singareni CMD N Sridhar said that 32% of the profit of Rs 2,222.46 crore achieved last year would be paid before the festival as this bonus, and that about 42,000 employees of the collieries would receive the bonus.
The amount will be credited to the employees' accounts three days before the festival.
The CMD said that it was due to the hard work of the employees that the company had achieved the huge profit last year. He said that the would enable the company to take up diversification and welfare programs, and extend more profit bonuses.