Millennium Post

NLC achieves huge rise in quarterly income

State-owned Neyveli Lignite Corp on Thursday reported a 37 per cent fall in its net profit at Rs 309.47 crore for the third quarter, mainly due to a steep decline in other income.

The company had posted a net profit of Rs 489.02 crore in the corresponding period of the last financial year, Neyveli Lignite Corporation (NLC) said in a regulatory filing to the stock exchange.

The public sector power generation company's total income from operations during the period rose to Rs 1,492.65 crore from Rs 1,314.95 crore in the same period last fiscal. Other income fell sharply from Rs 553.41 crore in the October-December quarter (2013-14) to Rs 209 crore in the period under reveiew.

Shares of the company closed at Rs 78.90, up 3.41 per cent on the BSE.
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