NE BUSINESS BUREAU
NEYVELI, MAY 16
State-owned Navratna company NLC India Limited on Wednesday reported that its net profit after tax (PAT) for the year ended March 31, 2024 was at ₹ 1,868 crore over ₹ 1,426 crore for the year ended March 31, 2023, registering a growth of 31 per cent.
FINANCIAL RESULTS OF NLC INDIA LIMITED FOR FY 2023-24!#NLCIL #NLCILShines #SustainableGrowth pic.twitter.com/tL7J7Z4NMp
— NLC India Limited (Official) (@nlcindialimited) May 15, 2024
Sales declined 19.59% to ₹ 12,999.03 crore in the year ended March 2024 as against ₹ 16,165.24 crore during the previous year ended March 2023.
The company’s EBITDA stood at ₹5,556 crore in FY24 against ₹4,868 crore in FY23, registering a growth of 14 per cent, the company said in a release.
“Apart from the interim dividend of 15 per cent (₹1.5 per share) on paid up equity share capital already declared and paid, final dividend of 15 per cent (₹1.5 per share) on paid up equity share capital recommended for FY24 subject to approval of shareholders in the Annual General Meeting,” it added.
The PSU miner incurred a capex of ₹4,270 crore during FY24. During the year, the company reported an all time high coal and lignite production of 36.32 million tonnes (mt).
The company reported 86.2 per cent drop in consolidated net profit to ₹ 114.23 crore for the March quarter due to lower income.
Sales declined 31.04% to ₹ 3,540.61 crore in the quarter ended March 2024 as against ₹ 5,134.04 crore during the previous quarter ended March 2023.
The company had posted consolidated profit of ₹ 829.67 crore in the year-ago period,
NLC India Renewables (NIRL), a wholly owned subsidiary of NLCIL, was incorporated during FY24 to pursue asset monetisation of RE projects. Besides, NLC India Green Energy (NIGEL), another subsidiary, was formed to undertake future renewable energy projects.
NLC India generated 27.1 billion units (BU) in FY24, of which 2.1 BU was generated through green power. Foundation stone laid for 2,400 megawatt (MW) Talabira Thermal Power Plant (TPP) at Odisha and 300 MW Solar Power Project at Barsingsar, Rajasthan.
