NLC India Ltd sees 31% jump in profit, record output in past fiscal

NLCIL reports 31% profit increase, record coal production, power generation, and successful bids in commercial coal mining auctions.

NLCIL has posted a 31% jump in net profit in the fiscal closing on March 31, on the back of its capacity expansion, power purchase deals and record production volumes of coal and lignite and power generation over the past year, a press release said.

The public sector undertaking (PSU) listed, as among its performance highlights, the all-time high coal and lignite production of 36.32 MT, including a record coal production of 12.64 MT and despatch of 11.76 MT from Talabira Mine; the highest-ever lignite production of 2.10 MT from Barsingsar Mines and 5.59 MT of lignite production from Mine-IA.

The power generation front also saw unprecedented highs of 2,153.41 million units (MU) in Thermal Power Station (TPS) II and 1,692.05 MU in the Barsingsar thermal power facility.

The Profit After Tax (PAT) stood at ₹1,847 crore as against ₹1,248 crore in the corresponding period of the previous year, registering a growth of 48%, and Profit Before Tax (PBT) was ₹2,788 crore as against ₹1,724 crore in the corresponding period of the previous year, registering a growth of 62%. This is the highest PBT in the past 10 years, NLCIL said.

In addition to laying the foundation stone for the 2400 MW Talabira Thermal Power Plant at Odisha and a 300 MW Solar Power Project at Barsingsar, Rajasthan, NLCIL also emerged as successful bidder for North Dhadu (West) Coal Mine (3.0 MTPA) in Latehar district, Jharkhand under A commercial coal mining auction.

According to the NLCIL, a key achievement for THE advancement of Neyveli Mine II was the fulfilment of the long-pending issue of THE permanent diversion of Paravanar river.

The company also concluded several Power Purchase Agreements, including one for 600 MW SPP in GSECL’s Solar Park at Khavda, Gujarat, and signed several MoUs, including one with Rajasthan Rajya Vidyut Utpadan Nigam for the formation of a joint venture to set up 125 MW Thermal and 1,000 MW solar power plants.