Neyveli Lignite profit drops 34 % in Q4 to Rs 446 cr

Heavy rains in Tamil Nadu during the end of last year has impacted the earnings

Neyveli Lignite Corporation Ltd (NLC) has posted a net profit of Rs 446.24 crore for the quarter ended March 31, 2016 as compared to Rs 676.81 crore for the quarter ended March 31, 2015.

Total Income has increased to Rs 1,964.58 crore for the quarter ended March 31, 2016 from Rs 1,858.88 crore for the quarter ended March 31, 2015.

The net profit was impacted by non-stabilisation of operation of newly commissioned Units of TPS- II Expansion resulting in an under recovery of capacity charges (operating loss) to the tune of Rs 244.08 crore and due to rain and flood in November / December 2015, the company suffered a power generation loss of 763.72 million units resulting in a consequential loss of estimated revenue of around Rs 409.73 crore.

 

These factors attributed to reduction in net profit to Rs 1,204.15 crore (after adjusting exceptional item of expenditure of Rs 28.38 crore) in 2015-16 as against Rs 1,579.68 crore (including exceptional item of revenue of Rs 345.57 crore) in 2014-15.

Total revenue of the company for 2015-16 rose to Rs 7,194.20 crore as against Rs 6,796.97 crore of in 2014-15 registering a positive growth of 5.84 per cent.