CHENNAI: Navratna PSU Neyveli Lignite Corporation (NLC) has registered an all-time high net profit of Rs 1,501.88 crore for the year ended March 31, 2014, against Rs 1,459.75 crore in FY13, a growth of 2.89%.
Total income for the year 2013-14 stood at Rs 6,991.99 crore as against Rs 6,173.02 crore in 2012-13, registering a growth of 13.27% and is the highest in any year since inception.
While total lignite production from all mines put together at all-time high of 266.09 LT (262.23 LT in 2012-13), total power generation from all thermal power stations put together stood at 19,988.73 MU (19,902.34 MU in 2012-13), the highest since inception.
For the January-March 2014 quarter, the company's total income from operations went up to Rs 1,709.89 crore (Rs 1,653.35 crore).
However, its standalone net profit reported 19.5 per cent drop at Rs 494.43 crore for the quarter ended March 31, due to higher expenses.
The company’s net profit in the same quarter of the year-ago period was Rs 614.79 crore. The board of directors has recommended a final dividend of Rs 1.80 per share for the year ended March 31.