NLC India dropped 1.12% to Rs 79.40 at 10:10 IST on BSE after net profit fell 13.62% to Rs 300.42 crore on 15.79% rise in total income to Rs 2148.28 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 8 December 2016.Meanwhile, the BSE Sensex was up 62.89 points, or 0.24%, to 26,757.17.
On the BSE, 9,199 shares were traded in the counter so far, compared with an average volume of 40,303 shares in the past one quarter. The stock had hit a high of Rs 79.80 and a low of Rs 78.40 so far during the day. The stock had hit a 52-week high of Rs 86.35 on 3 November 2016. The stock had hit a 52-week low of Rs 60.35 on 1 March 2016.
The stock had outperformed the market over the past 30 days till 8 December 2016, rising 0.25% compared with 3.25% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 4.69% as against Sensex's 8.09% decline.
The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.
NLC India said that Q2 net profit was impacted due to discharge of Rs 52.66 crore towards one time voluntary retirement compensation. In the first half of the year net profit was impacted mainly due to surrender of power of 722.27 million units (MU) by distribution companies with an estimated financial impact of Rs 219.30 crore.
NLC India operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector. As per the shareholding pattern as on 30 September 2016, the Government of India held 90% stake in the company.
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