Neyveli Lignite Corporation has reported a 10 per cent growth in net profit for the first quarter compared with the corresponding quarter previously.
NLC, a public sector company in lignite mining and power generation, has reported a net profit of ₹366.90 crore (₹334.05 crore) on a total income of ₹1,843.74 crore (₹1,510.45 crore) for the quarter ended June 30, 2015. The company has said that the Central Electricity Regulatory Commission’s tariff order of July 10, 2015, for Barsingsar Thermal Power Station has adversely impacted it.
It has the effect of reducing sale of power by ₹133 crore up to June 30, 2015, and increase in interest cost of ₹35 crore.
The company has filed a review and stay petition before the Commission.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.