NLC India clocks Q3 net of Rs 329.49 crore

Chennai: Public sector NLC India Ltd Tuesday recorded net profit for the October-December 2018 quarter (Q3) at Rs 329.49 crore, registering a growth of about 5 per cent over the corresponding period of previous year.

The Tamil Nadu-based firm registered net profit at Rs 313.80 crore during the corresponding period of previous fiscal.

The total revenue of the company for Q3 was Rs. 2070.29 crore as against Rs. 1807.50 crore in the corresponding period of the previous year.

Total income for the quarter ending December 31, 2018 grew to Rs 2,070.29 crore from Rs 1,807.50 crore.

For the April-December 31, 2018 period, net profit went upto Rs 976.84 crore from Rs 956.78 crore.

For the nine month period ending December 31, 2018, total income slipped to Rs 5,792.47 crore, from Rs 6,266.60 crore registered in the year ago period.

Meanwhile, lignite production in the current quarter ending on December 31, 2018 was 60.97 LT compared to 63.05 LT in the corresponding period of 2017-18. Lignite production was restricted to requirements for power generation and outside sale.

Power sale in Q3 was 5430.78 MU as against 4992.37 MU in the corresponding period of previous year registering a growth of about 9 per cent.

Net power surrender in the current quarter ended December 31, 2018 was 247.45 MU as against 336.60 MU in the corresponding period of the previous year.

On December 28, 2018, one of the two units of 2 x 500 MW lignite based power plant at Neyveli was lighted up. This is the first of its kind 500 MW lignite based boiler in India.

Shares of the company ended at Rs 64.70 apiece up by 3.11 per cent over previous close in the BSE.