New Delhi: Neyveli Lignite Corporation India Limited, a Government of India undertaking, released its financial quarter 3 results on Tuesday. The public sector undertaking under the administrative control of the Coal Ministry reported a standalone profit of Rs 1,673 crore, a growth of 253% compared to Rs 474 crore last year, with a consolidated profit of Rs. Rs 1,753 crore as against Rs 590 crore last year. The undertaking also paid tax of Rs 962 crore in the third quarter, compared to Rs 209 crore last year.
nlc India Limited achieved capital expenditure of Rs 3,493 crore against the annual target of Rs 2,880 crore. The undertaking has also declared 15% interim dividend for the financial year 2023-24
The EPC contract was awarded to BHEL for setting up the undertaking (3×800 MW) Pit Head Ultra Super Critical. Talabira Thermal power project in Odisha, the foundation stone of which was laid by the Prime Minister Narendra Modi recently.
In December, 2023, NLCIL The mines were also awarded 13 star rating by the Coal Ministry and NLC mines were rated as the best mines of the country for two consecutive years.
It is noteworthy that NLCIL has also incorporated a subsidiary company NLC India Green Energy Limited (NIGEL) to undertake green initiatives.