NLC India net profit down by 37 per cent

NLC India — formerly Neyveli Lignite Corporation — has posted a 37 per cent decline in net profit at Rs 230.75 crore during the quarter ended June 30, 2016, as compared to Rs 366.90 crore during the same period of the previous financial year (FY).

"The net profit for the quarter was impacted mainly due to surrender of power of 349.45 megawatts (Mw) by discoms as compared to 103.09 Mw during the corresponding quarter of the previous FY," informed the company officials, adding, "The impact was partly due to lesser power generation by Thermal Power Station II Expansion units and Barsingsar Thermal Plant on account of slow stabilisation."

The total income grew marginally to Rs 1974.10 crore during the quarter ended June 30, 2016, as compared to Rs 1965.79 crore during the same quarter of the previous FY.