Neyveli Lignite Corporation (NLC) has reported a 3.43 per cent increase in its net profit at Rs. 1,459.75 crore for the year ended March 31, 2013 against Rs. 1,411.33 crore in the previous financial year. Sales turnover registered a growth of 14.86 per cent to Rs. 5,590.07 crore against Rs. 4,866.85 crore.

Addressing presspersons here on Tuesday, B. Surender Mohan, Chairman-cum-Managing Director, said that the company had exceeded the targets in respect of production and power generation, and created new records during the year under reference.

Total lignite production from all the mines stood at 26.22 million tonnes against the target of 24.8 million tonnes, working out to 109.25 per cent of the target.

Lignite production in the previous year was 24.59 million tonnes.

Total power generation from all units put together was 19,901.77 million units against 18,789.44 million units, registering a growth of 5.92 per cent over the previous year.

The company has already paid an interim dividend of Re. 1 per share. It has recommended a final dividend of Rs. 1.80.

The future plans included the setting up of a coal-based power project with a capacity of 1,980 MW at Ghatampur through a joint venture, Neyveli Uttar Pradesh Power Limited; Bithnok power project (250 MW) and Hadla and Palana project (250 MW) in Rajasthan; and a 4,000 MW project in Sirkazhi (Tamil Nadu). Tendering activities were in progress for renewable energy projects (10 MW) and wind farm (50 MW), and orders would be issued shortly, he said. On the implementation of these projects, NLC would have a total lignite mining capacity of 38.85 million tonnes. The power generating capacity would go up to 11,195 MW by the end of the Thirteenth Five-Year Plan, against the present capacity of 2,740 MW, Mr. Mohan said.

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