NE BUSINESS BUREAU
CHENNAI, AUG 7
NLC India Ltd on Wednesday reported a 37 per cent rise in consolidated profit at Rs 566.69 crore for the quarter ended June 30, 2024.
- The income of the company rises to Rs 3,640.60 crore, over Rs 3,428.48 crore in the year-ago period
- The EBITDA of the Group for the reporting Quarter is Rs1,444.38 Crore as against Rs 1,305.80 Crore in the corresponding period of the previous year, registering a growth of 10.61%
The company had posted a net profit of Rs 413.57 crore in the year-ago period, an NLC India Ltd release said.
The income of the company in the April-June period rose to Rs 3,640.60 crore, over Rs 3,428.48 crore in the year-ago period, the statement added.
Profit Before tax (PBT) of the Group for the reporting quarter is Rs.821.66 Crore as against Rs.613.53 Crore in the corresponding period of the previous year, registering a growth of 33.92%.
The EBITDA of the Group for the reporting Quarter is Rs.1,444.38 Crore as against Rs.1,305.80 Crore in the corresponding period of the previous year, registering a growth of 10.61%.
The Total Income of the Group during the reporting Quarter is Rs 3,640.60 Crore as against Rs.3,428.48 Crore in the corresponding period of the previous year, registering a growth of 6.19%.
The Company has achieved 22.17% growth in Lignite production during Q1 of FY 2024-25 i.e. 61.67 LT compared to Q1 of FY 2023-24 i.e. 50.48 LT
The Company has raised its Coal production to 28.46 LT which is 35.27% growth during Q1 of FY 2024-25 compared to Q1 of FY 2023-24 i.e. 21.04 LT.
The Company’s Gross Power Generation increased to 6,133.67 MU which is 13.48% higher than Q1 of FY 2023-24 i.e. 5,405.17 MU. This includes Renewable Power Generation of 547.13 MU as against 539.59 MU of Q1 of FY 2023-24.
The Group Gross Power Generation increased to 7,554.08 MU which is 10.38% more than Q1 of FY 2023-24 i.e. 6,843.42 MU. This includes Renewable Power Generation.
The company has achieved Plant Availability Factor (PAF) of all thermals is 73.56% in Q1 of FY 2024-25 compared to Q1 of FY 2023-24 i.e 62.63%
The company has achieved Plant Load Factor (PLF) of all thermals is 70.27% in Q1 of FY 2024-25 compared to Q1 of FY 2023-24 i.e 61.20%
The company said that the board has approved raising the investment limit in the equity shares of Nevyeli Uttar Pradesh Power Ltd (NUPPL) from Rs 2,637.38 crore to Rs 3,676.00 crore in one or more tranches.
However, this is subject to approvals from the coal ministry and DIPAM among others.
NUPPL is a joint venture of NLC India Ltd (NLCIL) and Uttar Pradesh Rajya Vidyut Nigam Ltd (UPRVUNL).
The board has also approved to increase the investment limit in the equity shares of NLC India Green Energy Ltd (NIGEL) from Rs 50 crore to Rs 1,500 crore in one or more tranches subject to approvals from the coal ministry and others.
Lignite-to-power producer had earlier said that it is planning to raise funds through an Initial Public Offering (IPO) of its wholly owned subsidiary NLC India Renewables Ltd by the first quarter of the next financial year.
The funds raised via the IPO will be used in its clean energy expansion plans, it had said.
NLC India is a 6 GW company consisting of 1.4 GW renewable capacity and 4.6 GW thermal capacity. NLC India — the first company in the country to add 1 GW renewable capacity — has plans to scale up its power capacity to 17 GW by 2030.
While NLC India Renewables Ltd was incorporated to pursue asset monetisation of renewable energy projects, NLC India Green Energy Ltd was formed to undertake future renewable energy projects of NLCIL.
NLC India is a Navratna company under the Ministry of Coal. Its core business is mining and power generation.
