The state-owned lignite mining company NLC India, formally known as Neyveli Lignite Corporation posted a profit of Rs. 319.63, a marginal rise of 1.1% as compared to the profit of Rs. 316 crores during the June-end quarter of the previous year.
The company’s total revenue slipped to Rs. 1841.1 crores during the quarter under review from Rs. 2336 crores. The company posted its peak profit in the March-end quarter of 2018 with a net profit of Rs. 1897.8 crores.
The Tamil Nadu based company credited the fall in income to the ‘non-applicability of Clean Energy Cess’ after the introduction of GST. The total income earned during the March-end quarter stood at Rs. 9083 crores. The NLC said that the Lignite production during the June-end quarter of the current fiscal year stood at 3.62 Million Tonnes (MT) as against 3.79 Million Tonnes (MT) in the last year June-end quarter.
Power generation during the quarter under review was recorded at 4,883.91 Million Units as compared to 5275.52 Million Units generated in the same quarter, a year ago.