NLC India Ltd (NLCIL), a Navratna company under the Ministry of Coal, posted a decline in net profit for the quarter that ended September 30, 2020.
The PSU had posted a net profit of ₹20.39 crore (quarter) and ₹312.93 crore (half-year ended) respectively as against ₹336.78 crore and ₹659.82 crore in the corresponding period year-ago.
According to a release, the income of the company during the quarter and half-year ended was ₹1,849 crore and ₹4,235.86 crore respectively, as against ₹2,217.85 crore and ₹4,121.88 crore in the corresponding period year-ago. During the quarter, the company generated 3,791.31 Million Units (MU) as against 5,273.02 MU. The reduction in power generation was due to the fire accident in Thermal Power Station -II and decommissioning of TPS-I, partly offset by operation of new units - Unit I of Neyveli New Thermal Power Station (NNTPS) and solar power generation to the tune of 709 MW. The PSU exported 3,225.21 MU for the quarter ended September 30 as against 4,512.64 MU in the corresponding period of previous year.
NLCIL posted 19.9 % reduction in Earnings Before Interest, Tax and Depreciation and Amortisation (EBIDTA) for the quarter ended September 30.
