Bharat Coking Coal Ltd (BCCL), a subsidiary of Coal India Ltd (CIL), paid its first-ever dividend of ₹44.43 crore to its parent company on Sunday.

This milestone follows BCCL’s achievement of clearing its accumulated losses and reporting a net profit of ₹1,564 crore for the financial year 2023-24, with a turnover of ₹13,216 crore.

BCCL chairman-cum-managing director Samiran Dutta formally handed over the dividend to CIL chairman P M Prasad at a ceremony. The dividend payment was approved by BCCL shareholders at its 53rd Annual General Meeting on August 1.

Dutta attributed the company’s strong financial performance and strategic progress to a consistent growth rate of 15% over recent years.