NLC India Ltd. has posted 23.3% increase in the Earnings Before Interest,Tax and Depreciation & Amortisation (EBITDA) for 2017-18.
The public sector undertaking announced on Monday that the EBITDA of the company aggregated ₹3,706.79 crore in 2017-18 as against ₹3,006.13 crore in the previous year.
For the financial year 2017-18, NLC India Ltd. achieved a turnover of ₹8,496.20 crore as against ₹8,652.59 crore in 2016-17 with a decline of 1.81% mainly because of the unprecedented surrender of power to the tune of 2,566 million units impacting the revenue of the company adversely by around ₹783 crore, the company said.
Besides, accounting for the benefit of around ₹750 crore that was passed on by the company to the beneficiary power distribution companies (on account of non-applicability of clean environment cess and excise duty after the rollout of GST), the total turnover would have been higher at ₹9,246.20 crore — a growth of 6.86%, the company said.
The company’s profit after tax in 2017-18 stood at ₹1,848.78 crore as compared to previous year’s ₹2,368.81 crore. Sarat Kumar Acharya, chairman and managing director of NLC India Ltd., attributed the achievements to operational efficiency and several prudent cost management initiatives of the company in spite of the huge setback due to power surrender and passing on of around ₹750 crore benefit to the consumers impacting the turnover.
