Neyveli Lignite Q2 net drops 28% to Rs 240 cr

The company's net profit during the corresponding quarter last financial year stood at Rs 334.84 crore

Neyveli Lignite Corporation Ltd has posted a net profit of Rs 240 crore for the quarter ended September 30, 2013 as compared to Rs 334.8 crore for the quarter ended September 30, 2012. Total Income has increased from Rs 1,490.9 crore million for the quarter ended September 30, 2012 to Rs 1,516 crore for the quarter ended September 30, 2013.

 

Total expenses of the company in the second quarter this financial year stood at Rs 1,107.03 crore, registering an increase of 14.7% over Rs 964.51 crore same quarter last year.

 

The company said that employee benefit expenses for the current quarter include Rs 35.80 crore towards provision for pay revision and other benefits in respect of non-executives.