New Delhi, Aug 7 (Agency) State owned NLC India Limited under the Ministry of Coal on Wednesday reported over 37 percent jump in net profit at Rs 566.69 crore in Q1 (April-June) of current financial year 2024-25 as against Rs 413.57 crore in the same period of last financial year. The Total Income of the Group for the Quarter ended 30 June, 2024 grew 6.19 percent at Rs 3, 640.60 Crore as against Rs.3, 428.48 Crore in the corresponding period of the previous year, the company said in a regulatory filing with the stock exchanges. During the quarter, NLC emerged as successful bidder for Machhakata (Revised) Coal block, Odisha (30 MTPA) under commercial auction conducted by Ministry of Coal and Coal Mine Development and Production Agreement (CMDPA) executed with Nominated Authority, MoC.
This is the second commercial coal mine won by NLCIL in the competitive bidding. Approval of Government received for implementation of Pachwara South Coal Block (PSCB) project at Jharkhand State by NUPPL, a subsidiary company of NLCIL, at an estimated capital cost of Rs.2242.90 Crore, it said. The Company has achieved 22.17% growth in Lignite production during Q1 of FY 2024-25 i.e. 61.67 LT compared to Q1 of FY 2023-24 i.e. 50.48 LT, it said adding that the Company has raised its Coal production to 28.46 LT which is 35.27% growth during Q1 of FY 2024-25 compared to Q1 of FY 2023-24 i.e. 21.04 LT. The Company’s Gross Power Generation increased to 6, 133.67 MU which is 13.48% higher than Q1 of FY 2023-24 i.e. 5, 405.17 MU. This includes Renewable Power Generation of 547.13 MU as against 539.59 MU of Q1 of FY 2023-24. The Group’s Gross Power Generation increased to 7, 554.08 MU which is 10.38% more than Q1 of FY 2023-24 i.e. 6, 843.42 MU. This includes Renewable Power Generation, the company said in a statement.