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NLC India raises Rs 300 cr through commercial paper

Capital Market 

NLC India on Friday announced that it has raised Rs 300 crore through issue of commercial paper.

In an exchange filing, the company said that it issued 6,000 commercial paper of face value of Rs 5 lakh each on 26 February 2021, aggregating to Rs 300 crore.

Shares of NLC India declined 0.28% to Rs 52.85 on Friday.

NLC India is a 'Navratna' government of India company in the fossil fuel mining sector in India and thermal power generation. As of 31 December 2020, the Government of India holds 79.2% stake in the company.

The PSU company's consolidated net profit fell 54.2% to Rs 183.10 crore on 19.2% decline in net sales at Rs 2214.86 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, February 27 2021. 10:18 IST
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