State-owned Neyveli Lignite Corporation (NCL) on Friday reported 28.3 per cent fall in net profit at Rs. 240 crore for the quarter to September due to higher expenses.
The company’s net profit during the corresponding quarter last fiscal stood at Rs. 334.84 crore, the company said in a filing to BSE.
The total income from operations of the company, however, went up to Rs. 1382.82 crore in July-September 2013 over Rs. 1349.21 crore in the same quarter of the last fiscal, it said.
The total expenses of the company in the second quarter this fiscal stood at Rs. 1107.03 crore, registering an increase of 14.7 per cent over Rs. 964.51 crore same quarter last year.
“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,” the company said.
