Reduction of lignite transfer sees NLCIL revenue dip

Chennai: NLC India Limited (NLCIL) has announced the financial results for year ended 31 March, and announced that total revenue for the year stood at Rs 8,059.27 crore as against Rs 9,083.05 crore in the corresponding period last year.

The firm said in a release that the dip in revenue is mainly on account of reduction of lignite transfer price (Rs 420 crore), implementation of Ind As115 (Rs 658 crore) and non-applicability of clean energy cess (Rs 220 crore) in the current FY and having no impact on bottom line.

The profit for the year is Rs 1,266.97 crore as against Rs 1,848.78 crore in the corresponding previous FY.

The firm says the dip in profit is mainly on account of lower plant availability, decrease in lignite stock and implementation of VRS. The company achieved highest ever CAPEX of Rs 7,111 crore during the period, it said.

During the current FY 2018-19 the company commissioned 404 MW of solar power plants in Tamilnadu and Andaman and increased its renewable footprint from 291 MW to 695 MW, it said.

The power generation achieved was 20,677 MU as against 20,741 MU in the corresponding previous year. Out of the total power generation, renewable power accounted for 585 MU against 200 MU in the previous FY, NLCIL said.

NT Bureau