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NLC powers its total income by 15%

Neyveli Lignite Corporation on Friday  reported 19.5 per cent drop in standalone net profit to Rs 494.43 crore for the quarter ended 31 March, due to higher expenses.The company's net profit in the corresponding quarter of the year-ago period was Rs 614.79 crore, the company said in a filing to BSE.The company's total income from operations, however, went up to Rs 1,709.89 crore from Rs 1,653.35 crore in January-March quarter of the year-ago period, it said.

Its total expenses increased to Rs 1,167.74 crore from Rs 1,016.76 crore in the corresponding quarter, it added.However, the consolidated net profit for the year ended 31 March, 2014 increased to Rs 1,501.88 crore from Rs 1,458.74 crore in FY13, it said.The company's board of directors has recommended a final dividend of Rs 1.80 per share for the year ended 31 March.

Detailing initiatives taken during 2013-14, the company in a statement said the Board of Directors approved the proposal for re-structuring Mine-I and IA at Nevyeli at a cost of Rs 1,458.17 crore for meeting to the lignite requirement of upcoming power plant with a capacity to generate 1,000 MW.

On the status of ongoing projects, it said work on the expansion the Thermal Power Station-II (2x250MW) and NLC Tamil Nadu power limited 2x500MW in joint venture with State Electricity Board was going on and the projects were expected to be completed by June and August this year respectively.‘With this, the power generating capacity will be raised to 4,240 MW,’ it said.

Letter of Approval had been given to Bhel for setting up a 10-MW solar power project at Neyveli at a cost of Rs 74.60 crore.
‘With the completing of the above projects, the lignite mining capacity will be increased to 32.10 MTPA from 30.6 MTPA and power generation will be increased to 4,700 MW from 2,740 MW,’ it said.

‘At the end of 12/13 plan, Neyveli Lignite Corporation expects to achieve a lignite mining capacity of 38.85 MTPA compared to a present capacity of 30.60MTPA,’ it said.
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