NLC net dives 15% in Q1

Neyveli Lignite Corporation’s net profit dropped 15 per cent in the first quarter of the current financial year compared with that of the corresponding quarter last year. For the quarter ended June 30, the company reported a net profit of Rs 288.47 crore (Rs 342.83 crore) on an income of Rs 1,331.81 crore (Rs 1211.50 crore). During the comparable quarters, lignite mining profit dropped by 22 per cent, while that of power generation increased by 37 per cent. The profit before tax from lignite mining was Rs 267.44 crore (Rs 341.93 crore) and from power generation Rs 165.21 crore (Rs 120.66 crore).