Lignite mining and power generation company, NLC India Ltd (Neyveli Lignite Corporation) has reported a 37 per cent drop in net profit for the first quarter of the current year as compared with the previous comparable quarter.
NLC reported a net profit of ₹230.75 crore (₹366.90 crore) on an income of ₹1,880.37 crore (₹1843.74 crore) for the quarter ended June 30, 2016. Expenses were up at ₹1621.22 crore (₹1,415.81 crore).