NLC India Q2 results: PAT declines 9.5% to Rs 982 cr on higher expenses

State-owned NLC India Ltd on Friday reported a 9.5 per cent decline in consolidated profit at Rs 982.41 crore for the quarter ended September 30, 2024 on the back of higher expenses. 

NLC India Ltd (NLCIL) had posted a consolidated profit of Rs 1,085.93 crore in the year-ago period, NLC India Ltd said in a regulatory filing. 

However, the revenue from operations in the July-September quarter increased to Rs 3,657.27 crore, over Rs 2,977.53 crore in the year-ago period.

  The total expenses of the company in the second quarter rose to Rs 3,173.39 crore, over Rs 2,811.88 crore in the corresponding quarter of the previous fiscal.

  The mining segment of NLC India includes both lignite and coal mining and power segment includes both thermal and renewables.

  NLC India is a Navratna company under the Ministry of Coal. Its core business is mining and power generation.

  NLCIL operates three opencast lignite mines of total installed capacity 28 million tonnes per annum (MTPA) at Neyveli, one opencast lignite mine at Barsingsar in Rajasthan with an installed capacity of 2.10 MTPA and an open cast coal mine at Talabira in  Odisha with an installed capacity of 20 MTPA.

  The company also operates four lignite based pit-head thermal power stations with an aggregate capacity of 3,390 mw at Neyveli and one 250 mw lignite-based thermal power station at Barsingsar, Rajasthan.

  A 1,000 mw coal-based thermal power station is also in operation at Thoothukudi, Tamil Nadu through its subsidiary company, NLC Tamilnadu Power Ltd (NTPL), a joint venture between NLCIL and TANGEDCO (Tamil Nadu Generation and Distribution Corporation Ltd).

  NLCIL has also forayed into renewable energy sector. Presently, the company is operating 1380 mw of solar power plants in various districts of Tamil Nadu and Andaman & Nicobar islands and 51 MW wind power plant in Tirunelveli district of Tamil Nadu.

  NLCIL is targetting to become a 20,130 mw company by 2030.