Kolkata: Coal India (CIL) is hoping to conclude the eleventh version of the national coal wage agreement (NCWA-XI) within a month, benefiting its 2.4-lakh-strong non-executive staff. The next round of talks are scheduled on May 19.
The company has stated that pending conclusion an upfront wage cost was provisioned in the accounts every quarter since July 1, 2021, the date of commencement of NCWA-XI. This had a telling effect on CIL’s profit after tax in the fourth quarter of FY’23.
“Excluding the provision on wage cost due to NCWA-XI, CIL’s Q4 PAT during FY’23 would have been Rs 9,920 crore, an all-time high for any quarter till date.
