Chennai: The Navaratna public sector, Neyveli Lignite Corporation India Limited, has earned a profit of Rs .352.88 crore in the first quarter of 2016-17.
In a press release, the NLC India Ltd stated that the Revenue from operations of the company for the first quarter of the fiscal year stood at Rs 1, 880.37 crore as compared to Rs 1,843.74 Crore in the same quarter last year registering a positive growth of 1.99 per cent.
However, the company’s net profit before tax during the current quarter stood at Rs 352.88 crores as compared to Rs 553.48 Crores in the same quarter last year.
The net profit for the current quarter was impacted mainly due to surrender of power of 349.45 Million Units (MU) by distributing companies during current quarter as compared to 103.09 MU of the corresponding quarter of the previous year and partly due to lesser power generation by Thermal Power Station-II Expansion units and Barsingsar Thermal plant on account of slow stabilisation.
