NLC India Posts 9.5% Profit Decline Despite Revenue Surge

NLC India Ltd reported a 9.5% drop in consolidated profit to Rs 982.41 crore for Q2 2024 despite higher revenue of Rs 3,657.27 crore. Compared to the previous year's Rs 1,085.93 crore profit, the navratna company under the Ministry of Coal shows mixed financial performance.

NLC India Ltd, a state-owned navratna company, announced a 9.5% decline in consolidated profit for the quarter ending September 30, 2024. The profit stood at Rs 982.41 crore, falling from Rs 1,085.93 crore in the same period last year.

Despite the dip in profit, NLC India's revenue from operations for the July-September quarter showed a notable increase, reaching Rs 3,657.27 crore compared to Rs 2,977.53 crore in the year-ago period. The company, under the Ministry of Coal, focuses on mining and power generation.

This financial performance highlights a challenging market environment as the company endeavors to navigate through fluctuating profit margins while achieving higher operational revenues.

(With inputs from agencies.)