Coal news and updates

Neyveli Lignite’s Q4 net profit down 20%

May 27: Neyveli Lignite Corporation Limited recently reported a 19.57% drop in its net profit to Rs 494.43 crore during the January-March quarter (fourth quarter) of 2013-14 compared to Rs 614.79 crore reported in the same quarter of 2012-13, the company said in a filing to the BSE, mainly on account of higher expenses on fuels.

For 2013-14, however, net profit of the company rose almost 3% to Rs 1,501.88 crore compared to a net profit of Rs 1,459.75 crore recorded in 2012-13, backed by good lignite production and power generation. Total income from operation during the year stood at Rs 5,967.23 crore compared to Rs 5,590.07 crore in 2012-13.

The following table gives quarter-on-quarter and yearly performance of Neyveli Lignite Corporation Limited in 2014 and 2013 (in Rs crore):