Shares of NLC India Ltd gained 1% on Wednesday, 5 February, after the company emerged as a successful bidder for a new Patrapara South Coal Mine in Angul District of Odisha.

With a total geological resource of 720.87 million tonnes (roughly), the coal mine block has a peak-rated capacity of 12 million tonnes per year.

The company claims that this is its third commercial coal mine and that, in line with its corporate plan 2030, it has committed to 100 million tonnes of mining capacity.

The company’s net profit climbed from Rs 250.42 crore in December 2023 to Rs 668.09 crore, a 166.8% rise.

Operational income climbed from Rs 3,164.40 crore to Rs 4,411.41 crore, a 39.4% rise from the previous year.

In January, the company’s subsidiary NLC India Renewables and Assam Power Distribution signed a joint venture deal to build a solar power facility in Assam.

The share hit a 52-week high of Rs 311.65 and a 52-week low of Rs 193.00 on 16 July 2024 and 5 June 2024.

However, at 12:03 pm, the shares of NLC India were trading 0.83% higher at Rs 225.84 on NSE.

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