Millennium Post

NLC powers Q1 net profit by 20% to Rs 334 cr

Navaratna PSU Neyveli Lignite Corporation's first quarter net profit has risen by 19.9 per cent to Rs 334.05 crore.

The Tamil Nadu-based company had made a net profit of Rs 278.43 crore during the corresponding period a year ago.

For the financial year ending 31 March, 2014, NLC's net profit stood at Rs 1,501.88 crore, the company said in a BSE filing on Friday.

Total income from operations for the first quarter ending 30 June, 2014 remained flat at Rs 1,510.45 crore as against Rs 1,559.57 crore registered during the same period of previous year.

For the 2013-14 financial year, the total income from operations stood at Rs 5,967.23 crore.

The company informed that TPS-II expansion (500MW) at Neyveli and a coal-based power plant of 1000 MW at (NTPL) Tuticorin are under implementation. Both these projects are  expected to be completed in the year 2014/2015. Thus, the power generating capacity  will be raised to 4240 MW.

51 MW wind power project is coming up in Thirunelveli. A 10 MW solar power project is coming up in Neyveli and also the Neyveli  New Thermal Power station (1000 MW).
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