NLC India Limited posts decline in net profit

The PSU had posted a net profit of ₹20.39 crore (quarter) and ₹312.93 crore (half-year ended) respectively as against ₹336.78 crore and ₹659.82 crore in the corresponding year-ago period.

NLC India Ltd. (NLCIL), a Navratna company under the Ministry of Coal, posted a decline in net profit for the quarter ended September 30, 2020.

The PSU had posted a net profit of ₹20.39 crore (quarter) and ₹312.93 crore (half-year ended) respectively as against ₹336.78 crore and ₹659.82 crore in the corresponding year-ago period.

According to a release, the income of the company during the quarter and half-year ended was ₹1,849 crore and ₹4,235.86 crore respectively as against ₹2,217.85 crore and ₹4,121.88 crore in the corresponding year-ago period.

During the quarter, the company generated 3,791.31 Million Units (MU) as against 5,273.02 MU. The reduction in power generation was mainly due to the fire accident in Thermal Power Station-II and decommissioning of TPS-I, partly offset by operation of new units — Unit I of the Neyveli New Thermal Power Station and solar power generation to the tune of 709 MW.

The PSU also exported 3,225.21 MU for the quarter ended September 30 as against 4,512.64 MU in the corresponding period of previous year.

The NLCIL also posted 19.9 % reduction in the Earnings Before Interest, Tax and Depreciation and Amortisation (EBIDTA) for the quarter ended September 30. The EBIDTA of the company was ₹728.9 crore as against ₹909.85 crore.

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