Output at Neyveli exceeds target in first quarter

The company exceeded the output target of 65.60 lakh tonne during the first quarter of this fiscal

Amid labour unrest due to Centre's proposal to dilute 5% stake, public sector Neyveli Lignite Corporation has exceeded its production target during the first quarter of the current fiscal, achieving lignite output of 66.36 lakh tonnes.

The company, in a BSE filing, said it exceeded the output target of 65.60 lakh tonne during the first quarter of this fiscal. It grew by 6.4% over the same period of previous financial year.

The growth in power generation during the first quarter stood at 5,377.51 million units as against the planned 4,850 million units, it said.

The Thermal Power Station Unit-I expansion (420 MW) has generated 920.91 MU during the first quarter making it the highest power generation since the inception of the plant, it said.

During June, lignite production stood at 22.28 lakh tonnes as against the planned 22.15 lakh tonnes. The power generated in June also grew by 6.12% to 1,726.13 MU as against 1,605 million units registered during the same month of previous year.

Labour unions at NLC representing about 30,000 employees are on strike in protest since Wednesday against the Centre's proposed disinvestment plan.

Tamil Nadu Chief Minister J Jayalalithaa echoing similar views suggested the five% stake be given to the State.

Shares of the company are trading at Rs 58.45 a piece down by 0.85% over previous close in afternoon BSE.