Neyveli Lignite stock jumps over 14% as profit rises

Stocks of Neyveli Lignite <g data-gr-id="14">Corporation</g> today surged over 14 per cent after it reported 36.8 per cent rise in standalone net profit for the quarter ended March 31.

NLC’s scrip zoomed 14.26 per cent to settle at Rs 83.75 on the BSE. In intra-day trade, it jumped 19.98 per cent to Rs 87.95. On the NSE, it soared 14.37 per cent to close at Rs 83.55. On the volume front, 5.86 lakh shares of the company changed hands at the BSE and over 28 lakh shares were traded at the NSE during the day. NLC on Friday reported 36.8 per cent rise in standalone net profit at Rs 676.81 crore for the quarter ended March 31, 2015 against Rs 494.43 crore in the year-ago period. 

The total income from operations declined to Rs 1,682.09 crore from Rs 1,709.89 crore in the corresponding quarter of FY 2014, it had said.