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Informist, Friday, Oct. 25, 2024

 

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--NLC India Jul-Sept consol net profit INR 9.12 bln vs INR 10.85 bln yr ago 
--NLC India Jul-Sept consol revenue INR 36.57 bln vs INR 29.78 bln year ago 
--NLC India Apr-Sept consol net profit INR 14.71 bln vs INR 14.89 bln yr ago 
--NLC India Apr-Sept consol revenue INR 70.33 bln vs INR 62.94 bln year ago 
--NLC India Jul-Sept consol mining ops sales INR 16.16 bln vs INR 16.78 bln 
--NLC India Jul-Sept consol power ops revenue INR 34.66 bln vs INR 26.07 bln 
 

 

By Akshita Kumar

 

MUMBAI – NLC India Ltd. posted better-than-expected earnings for the September quarter. The company reported a consolidated net profit of INR 9.12 billion, down 16% from INR 10.85 billion in the same quarter last year. Elara Securities, which was the only brokerage with an earnings estimate for NLC, had expected the company to report a consolidated net profit of INR 5.24 billion. Sequentially, the net profit rose 63% from INR 5.59 billion.

 

The company's consolidated revenue from operations for the latest quarter came in at INR 36.57 billion, up 22.8% from INR 29.78 billion a year ago. Elara Securities had expected the company's September quarter revenue at INR 32.03 billion. Sequentially, the revenue from operations rose 8.3% from INR 33.76 billion.

 

For Apr-Sept, the company reported a consolidated net profit of INR 14.71 billion, down 1.2% from INR 14.89 billion in the same period last year. Revenue from operations for Apr-Sept came in at INR 70.33 billion, up 11.7% from INR 62.94 billion. More

 

The company's total expenses, including finance costs, were INR 31.73 billion, up 12.9% on year. The cost of fuel consumed in the September quarter was INR 7.77 billion, more than double the INR 3.54 billion in the same period a year ago. The company's employee benefit expenses were INR 6.95 billion, down 2.8% on year.

 

Finance cost for the September quarter was INR 1.80 billion, down 16% on year. Other income almost tripled to INR 7.13 billion from INR 2.56 billion in the same quarter a year ago. The company's other expenses were INR 12 billion, up 4.3% on year. Tax outgo for the September quarter was INR 1.51 billion, down 75% on year.

 

The company's mining segment reported a consolidated revenue of INR 16.16 billion, down 3.7% from INR 16.78 billion in the same period a year ago. The power generation segment's consolidated revenue for the latest quarter was INR 34.66 billion, up 33% from INR 26.07 billion a year ago. 

 

For Apr-Sept, the mining segment's consolidated revenue was INR 32.49 billion, down 10.4% from INR 36.24 billion in the same period a year ago. Power generation segment's consolidated revenue for Apr-Sept came in at INR 65.33 billion, up 19.6% from INR 54.61 billion a year ago.

 

In the September quarter, the company purchased an additional 122.7 million shares of its subsidiary, Neyveli Uttar Pradesh Power Ltd., for INR 1.23 billion. As on Sept. 30, the company's total investment in Neyveli Uttar Pradesh Power was INR 27.60 billion. The company also acquired 2.65 million shares of subsidiary NLC India Renewable Ltd. for INR 26.5 million in the September quarter.

 

On Friday, shares of NLC India ended at INR 239.20 on the National Stock Exchange, down 2% from the previous close.  End

 

Edited by Ashish Shirke

 

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