Neyveli Lignite Corporation (NLC) has reported a 8.7% growth in net profit at Rs 1,411.33 crore in 2011-12 as compared to Rs 1298.33 crore.
The company reported the growth despite its facing labour problem for the last 38 days.
Sales up by 13.3% to Rs 4,866.85 crore from Rs 4,295.95 crore.
NLC chairman and managing director A R Ansari said that the performance was due to company's old plants.
He added, in the last three years NLC net worth rose by 32% and profit rose by 71%.
Total power generation from all NLC's thermal power stations put together 18,788.59 MU and TPS II at 11,807.36 MU achieved in 2011-12 are the highest for any year since inception.
Lignite production up by 6.25% and power generation up by 5.08% in 2011-12.
Current capacity of the company is around 2,740 MW and lignite mining capacity is 30.60 MTPA.
The company said its Unit I Thermal Power Station -II expansion (250 MW) will be shortly commissioned. In respect of 2X500 MW at Tuticorin, which will be coal based, a JV between NLC and TANGEDCO, supply and erection activities are in progress.
Both the units are expected to be commissioned in 2013-14.
The lignite based power producer is also spreading its wings in new projects with fuels other than lignite. The company planned for 6,555 MW capacity projects.
Proposed expansion will be funded through debt and internal accruals.
NLC Board has recommended a dividend of 28% and the total outflow including distribution tax will be Rs 546 crore in 2011-12.
