Chennai

Lignite and power major NLC India ltd have reported a net profit of ₹1121 crore for the quarter ended September 30, when compared with ₹367 crore in the year-ago period, boosted by net movement in regulatory deferral account balances income of ₹1252 crore amid fall in topline.

Profit before exceptional items, tax and rate regulatory activity stood at ₹475 crore as against ₹474 crore in Q2 of FY23.

Revenue

Revenue of the company dropped to ₹2471 crore in September 2023 quarter when compared with ₹2753 crore in the year-ago period. Total expenses stood at ₹2269 crore as against ₹2347 crore.

For the half year ended September 30, 2023, the company’s net profit stood at ₹1452 crore as against ₹873 crore in the same period previous fiscal, boosted by net movement in regulatory deferral account balances income of ₹1219 crore.

Revenue of the company declined to ₹5072 crore in H1 of this fiscal when compared with ₹5847 crore in the year-ago period.

The company’s Board has approved the incorporation of a wholly owned subsidiary - NLC India Green Energy Ltd (NIGEL) with an authorised capital of ₹50 crore. The said new subsidiary was incorporated on October 13, 2023.

The company has discounted the bills of DISCOMs for an aggregate amount of ₹2,929.61 crore during the half year ended September 30, 2023, and adjusted the same against the trade receivable. The recourse period of pending discounted bills amounts to ₹4,729.41 crore, which is up to September 2024. The company has considered the said amount under contingent Liability, according to a company note.

Shares of the company ended 0.41 per cent lower ₹121.70 apiece on the BSE on Thursday. 

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