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NLC posts record profit in FY 2016-17

(01 Jun 2017)

NLC India Limited (NLCIL) recorded the highest profit after tax since (PAT) its inception during 2016-17. PAT zoomed 42.9% year-on-year (y-o-y) to Rs 2,342.9 crore for the financial year. The company witnessed growth on all fronts — sales turnover, total income, profit before and after tax, power generation, lignite excavation and overburden excavation — for the fiscal year 2016-17, said chairman and managing director S K Acharya.

The sales turnover of the company jumped 30.38% y-o-y to Rs 8,672.84 crore in 2016-17. Total income surged 30.24% y-o-y to Rs 9,347.25 crore during the financial year. Profit before tax stood at Rs 3,027.56 crore as against Rs 1,856.07 crore in 2015-16 registering a 63.12% y-o-y growth. The company paid a dividend of 73.4% amounting to Rs 1,121.97 crore to the shareholders including the union government whose share stood at Rs 1,002.2 crore.

It generated 22,340.59 million units of power in 2016-17 registering a growth of 14.44%. NLC India Limited-Tamil Nadu Power Limited (NTPL), a subsidiary of NLCIL generated 7,135 million units of power in 2016-17 and if it is consolidated the company generated 29,475.59 million units of power recording 27.18% growth.

NLCIL excavated 276.17 lakh tonnes of lignite, an 8.51% y-o-y increase, and did 2,058.14 lakh cubic meters of overburden excavation, registering 20.87% y-o-y growth. The company paid Rs 4,964.52 crore by way of dividend including dividend distribution tax, buyback of shares, clean cess, royalty, other taxes and duties. NLCIL is targeting to generate 20,971MW power, mine 62.15 million tonnes of lignite per annum and excavate 31 million tonnes of coal per annum at the end of 2025.

It has commenced work to commission three 660MW units through Neyveli Uttar Pradesh Power Limited (NUPPL), Ghatampur, a subsidiary of NLCIL at Uttar Pradesh in 2020-21, Bithnok mine-cum-thermal power project in Rajasthan (one mine with 2.25 million tonnes per annum capacity and a 250MW thermal power plant) by 2019-2020, Hadla lignite mine linked to Barsingsar extension thermal power project in Rajasthan (one mine with 1.9 million tonnes per annum capacity and a 250MW thermal power plant) by 2019-2020.

The company is planning to commission two 65MW solar power projects at Neyveli, Tamil Nadu by June this year and solar power projects with 500MW capacities at various locations in the state by 2018-19. The 1000MW Neyveli New Thermal Power Project (NNTPP) will be commissioned by March-April, 2018.

News Source : Times of India

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