NLC India 2qtr net dip 16.2% to Rs 440.12 Cr

Public sector NLC India (Neyveli Lignite Corporation) as recorded a 16.2 per cent dip in its net profits for the quarter ending September 30, 2016 to Rs 440.12 crore.
The net profits of Tamil Nadu-based company had registered Rs 525.82 crore during coresponding quarter of previous year.
The company, in a notification to BSE, said its profits got impacted due to allocation of Rs 52.66 crore towards voluntary retirement compensation.
For the half-year period ending September 30, 2016, net profits of the company dived 26.8 per cent to Rs 793 crore, as against Rs 1,083.68 crore, registered during year ago period.

The net profits for the half year ending September 30, 2016 impacted due to surrender of power of 722.27 MU (metered units) which caused an estimated financial impact of Rs 219.30 crore.
On the production of lignite for the quarter ending September 30, 2016 the company said it rose to 69.27 LT (lakh tonne) from 60.21 LT registered during corresponding quarter of last year.

Power generated during the July-September 30,2016 period went upto 5,254.83 MU from 4,963.47 MU in the corresponding quarter of last year.
Total sales revenue for the second quarter ending September 30, 2016 grew by 19.6 per cent to Rs 2,056.67 crore from Rs 1,718.19 crore registered during year ago period.

For the six month period ending September 30, 2016 total sales revenue went upto Rs 3,938.51 crore as compared to Rs 3,564.09 crore registered during same period of last year, it added.
Shares of the company were trading at Rs 78.50 apiece downby 2.24 per cent over previous close in BSE.