NLCIL records 23.3% EBITDA rise in FY18
Neyveli: The Earnings Before Interest,Tax and Depreciation & Amortisation (EBITDA) of the company for the year 17-18 stood at Rs 3706.79 crores compared to Rs 3006.13 crores in the previous year registering a growth of 23.3 per cent.
For the financial year 2017-18, NLC India Ltd, achieved a turnover of Rs 8496.20 crores as compared to Rs 8652.59 crores in the year 2016-17 with a decline of 1.81 per cent mainly due to unprecedented surrender of power to the tune of 2566 MU impacting the revenue of the company adversely by around Rs 783 crores.
Besides the benefit of around Rs 750 crores was passed by the company to the beneficiary DISCOMS (on account of non applicability of Clean Environment Cess and Excise Duty with roll out of GST) which if included would have resulted in a total turnover of Rs 9246.20 crores showing a growth of 6.86 per cent.
The company's Profit after Tax (PAT) in 2017-18 stood at Rs 1848.78 crores as compared to previous year's PAT of Rs 2368.81 crores included tax and other regulatory gains of around Rs 679.33 crores on transition from IGAAP to INDAS which when excluded results in a comparative growth of PAT by 9.43 per cent in the year 2017-18.
The achievements are due to operational efficiency and prudent Cost Management initiatives, which helped to score a PAT of Rs 1848.78 crores inspite of huge set back due to power surrender and passing of around Rs 750 crores benefit to the consumers taking a hit on its