NLC achieves 32.4% rise in Q2 net profit

Neyveli Lignite Corporation Ltd, the Navratna – Mining and Power Generation CPSE has recorded good operational financial performance for the first half year of FY 2015-16.

During this period, the Company has increased its Installed Capacity from 2,740 mw to 3,263.50 mw by adding 523.50 mw including Wind Power of 13.50 mw and Solar Power of 10 mw. The Company’s Subsidiary NTPL has also commissioned its 1,000 mw Coal based Power Station at Tuticorin. The Power Generation in the current 1st half year was 10,338 mu as compared to 9,983 mu in corresponding period of previous year with growth of 3.56%.

On Wednesday, the company’s board approved its financial results for the Quarter ended 30th September 2015. The operating income was Rs. 1,715.91 cr with Profit before Tax (PBT) of Rs 521.43 cr and Profit after Tax (PAT) of Rs 343.40 crore. 

During the half year the Operating Income was Rs 3,559.65 cr compared to Rs 2,912.94 cr in the corresponding period of previous year recording a growth of 22.20%. The PBT has increased to Rs 1,074.91 cr from Rs 874.57 cr, with an increase of 22.91%.  The PAT has increased to Rs 710.30 cr from Rs 593.40 cr with a growth of 19.70%. Meanwhile, the PSU has presented the final dividend of Rs 150.99 crore for the 2014-15 to the Centre in addition to the 18 per cent interim dividend paid in March 2015.

“The total dividend payout including (distribution of taxes) for 2014-15 amounts to Rs 566.70 crore. Taking into account the interim dividend of Rs 271.79 crore paid in March 2015, the dividend paid to government for 2014-15 was Rs 422.79 crore”, the company said in a statement. The final dividend amount of Rs 150.99 crore was presented by NLC Ltd Chairman and MD S K Acharya to Power Minister Piyush Goyal at a function on Tuesday.