Gujarat NRE Coking Coal announced a $24.6 million profit after tax at the company's annual general meeting in Wollongong on the weekend.The yearly result, to March 2011, compared to an after-tax loss of $11.68 million for the previous financial year.Chairman Arun Jagatramka said the company, which has two mines and more than 500 employees in Wollongong, was still on track to start long-wall mining operations at its Russell Vale colliery later this year, and progressing steadily on moves to mine coal reserves in the south-west of its Wongawilli mine.Both mines were on target to each produce three million tonnes of coal a year by 2015 and together are expected to produce up to 2.5 million tonnes this financial year.Total revenue and other income of the group was up 45 per cent - from $170 million to $246.9 million - and production was up 37 per cent from 1.13 to 1.55 million tonnes at the Illawarra mines.Mr Jagatramka said the company was still set to increase group coking coal production to six million tonnes per annum within three years after successfully raising $72 million in February by the placement of 100 million fully paid shares at 72? each.During the financial year, equity grew by 22 per cent, exports were up by 68 per cent, from 968,000 tonnes to 1.62 million tonnes, and total assets increased 30 per cent.The long-wall system Joy Manufacturing is presently supplying to NRE's No 1 Colliery will have an initial face of 145m, but there is an option that would allow it to be extended to up to 390m within five years.Joy is also supplying an 18m face long-wall coal clearance system to upgrade the existing long-wall system at Wongawilli in 2013.The NRE Wollongong mines are considered viable for at least another 30 years, despite the increased production that will come from an estimated $90 million being spent on long-wall operations.Mr Jagatramka said the key components for the Russell Vale long wall were now being commissioned and tested on the surface before final commissioning underground later this year.An upgrade of the coal handling facility at Russell Vale is also planned, so it can handle up to three million tonnes per annum within three years.During the past financial year, two access portals were completed at Wongawilli and roadway construction began on the surface to allow access to coal reserves to the south-west.Work on a new conveyor roadway is due to start later this year.The Wongawilli seam is being mined at both locations, but in the longer term the company sees potential to complement that with coal extracted from the Bulli seam, which is world renowned for its premium hard-coking coal.Gujarat NRE is increasing its investment, confident that huge demand for hard-coking coal will continue for the long term as steel production rises in countries such as China, India, Brazil and Russia.The company has invested $450 million into developing its two Illawarra mines since 2004 and is planning to invest another $450 million, which will help it become one of the largest producers of prime-quality hard-coking coal in Australia by 2015.Mr Jagatramka said the company was committed to the long-term success of the Illawarra."We believe our 500 employees are our biggest asset and we will take them along in our growth path," he said."I want to reassure staff and the local community [NRE] is committed to [being] ... a part of scripting the ongoing success in the region."Coal had helped the region through the last financial crisis and "may do the same with any impending one".