Neyveli Lignite drops after reporting weak Q4 results

Neyveli Lignite Corporation shed 1.34% to Rs 69.80 at 10:45 IST on BSE after net profit declined 34.06% to Rs 446.24 crore on 5.68% rise in total income to Rs 1964.58 crore in Q4 March 2016 over Q4 March 2015.

The announcement was made after market hours yesterday, 26 May 2016.

Meanwhile, the BSE Sensex was up 186.16 points, or 0.71%, to 26,552.84.

On BSE, so far 27,553 shares were traded in the counter, compared with an average volume of 33,808 shares in the past one quarter. The stock hit a high of Rs 72.40 and a low of Rs 69.60 so far during the day. The stock hit a 52-week high of Rs 94.25 on 7 August 2015. The stock hit a 52-week low of Rs 60.35 on 1 March 2016. The stock had underperformed the market over the past one month till 26 May 2016, falling 0.49% compared with Sensex's 1.38% rise. The scrip had also underperformed the market in past one quarter, advancing 7.85% as against Sensex's 13.87% rise.

The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

Neyveli Lignite Corporation said that the board of directors of the company recommended a final dividend of Rs 1.20 per share for the year ended 31 March 2016 (FY 2016).

Neyveli Lignite Corporation (NLC) operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector. As per the shareholding pattern as on 31 March 2016, the Government of India held 90% stake in the company.

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