State-run NLC India (NLCIL) on Wednesday reported a 86 per cent y-o-y fall in its consolidated net profit at ₹114 crore in Q4 FY24. On a sequential basis, the profit declined by 55 per cent.
The country’s largest lignite miner posted a consolidated total income of ₹4,035 crore in Q4 FY24 compared with ₹3,246 crore and ₹5,856 crore in Q3 FY24 and Q4 FY23, respectively, the company said in its results filing with BSE.
For FY24, the Navratna company’s consolidated net profit rose by 31 per cent y-o-y to ₹1,868 crore. Consolidated total income was lower at ₹13,946 crore during the last financial year.
The company’s EBITDA stood at ₹5,556 crore in FY24 against ₹4,868 crore in FY23, registering a growth of 14 per cent, the company said in a release.
“Apart from the interim dividend of 15 per cent (₹1.5 per share) on paid up equity share capital already declared and paid, final dividend of 15 per cent (₹1.5 per share) on paid up equity share capital recommended for FY24 subject to approval of shareholders in the Annual General Meeting,” it added.
The PSU miner incurred a capex of ₹4,270 crore during FY24. During the year, the company reported an all time high coal and lignite production of 36.32 million tonnes (mt).
NLC India Renewables (NIRL), a wholly owned subsidiary of NLCIL, was incorporated during FY24 to pursue asset monetisation of RE projects. Besides, NLC India Green Energy (NIGEL), another subsidiary, was formed to undertake future renewable energy projects.
NLC India generated 27.1 billion units (BU) in FY24, of which 2.1 BU was generated through green power. Foundation stone laid for 2,400 megawatt (MW) Talabira Thermal Power Plant (TPP) at Odisha and 300 MW Solar Power Project at Barsingsar, Rajasthan.