Neyveli Lignite Corporation rose 3.04% to Rs 57.65 at 11:41 IST on BSE after net profit jumped 120.6% to Rs 489.02 crore on 4.7% growth in net sales to Rs 1314.95 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result was announced after market hours on Thursday, 30 January 2014.
Meanwhile, the S&P BSE Sensex was almost unchanged at 20,498.95.
On BSE, so far 41,000 shares were traded in the counter as against average daily volume of 53,342 shares in the past one quarter.
The stock hit a high of Rs 59 and a low of Rs 57.30 so far during the day. The stock had hit a 52-week high of Rs 85.15 on 1 February 2013. The stock had hit a 52-week low of Rs 49 on 5 August 2013.
The stock had underperformed the market over the past one month till 30 January 2014, sliding 11.33% compared with the Sensex's 3.05% fall. The scrip had, however, outperformed the market in past one quarter, declining 2.1 % as against Sensex's 2.55% fall.
The mid-cap company has equity capital of Rs 1677.71 crore. Face value per share is Rs 10.
Neyveli Lignite Corporation (NLC)'s other income surged 379.39% to Rs 553.41 crore in Q3 December 2013 over Q3 December 2012. Other income includes an amount of Rs 426.63 crore towards dues of surcharge and interest receivable from TANGEDCO, as agreed and recorded in the minutes of meeting held with them on 19 December 2013, NLC said.
NLC said that disputed income tax demand of Rs 315.01 crore, which has not been provided since the identical issue has been decided in favour of the company in appeal in earlier year and the appeal for the same will be preferred in due course.
Tamil Nadu-based Neyveli Lignite Corporation's principal activities are exploration of lignite mines and power generation.
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