NLC India's Financial Performance: Navigating Higher Expenses

NLC India Ltd faced a 9.5% decline in profits, reporting Rs 982.41 crore for Q2 2024 due to higher expenses. However, its revenue increased to Rs 3,657.27 crore. The company focuses on lignite and coal mining as well as power generation, and it aims for 20,130 mw by 2030.

NLC India Ltd, a state-owned enterprise, reported a 9.5% decrease in consolidated profit, totaling Rs 982.41 crore for the quarter ending on September 30, 2024. This decline occurs amid rising expenses that have impacted the company's financial performance.

The company's revenue from operations rose to Rs 3,657.27 crore compared to Rs 2,977.53 crore in the previous year, showing an increase despite the reduced profit margins. Total expenses for the quarter also increased, reaching Rs 3,173.39 crore, up from Rs 2,811.88 crore in the corresponding quarter last fiscal year.

NLC India, recognized as a Navratna company under the Ministry of Coal, specializes in lignite and coal mining as well as power generation, both thermal and renewable. Currently, it operates multiple mines and power stations including solar and wind power plants, aspiring to become a 20,130 mw company by 2030.

(With inputs from agencies.)