NLC India Q2 PAT tumbles 77% to Rs 62 cr
The state-run company’s consolidated net profit tanked 77.1% to Rs 61.93 crore on 13.8% decline in net sales to Rs 2,092.68 crore in Q2 September 2020 over Q2 September 2019.
On a consolidated basis, profit before tax (PBT) dropped 38.4% to Rs 288.98 crore in Q2 September 2020 as against Rs 468.79 crore in Q2 September 2019. The Q2 result was declared post trading hours on Friday, 13 November 2020.
EBIDTA for the quarter ended 30 September 2020 stood at Rs 728.90 crore as against Rs 909.85 crore, recording a fall of 19.9% Y-o-Y.
Power generation during the quarter and half year ended 30 September 2020 stood at 3,791.31 million units (MU) and 9,489.92 million units (MU) respectively as against 5,273.02 million units (MU) and 10,332.13 million units (MU) respectively in the corresponding period of the previous year. The reduction in generation was mainly due to fire incident in TPS-II and retirement of TPS-I, partly offset by operation of new units of Unit-I of NNTPS (500 mega-watt) and Solar 709 mega-watt (MW).
Power export during the quarter and half year ended 30 September 2020, was at 3,225.21 million units (MU) and 8,184.44 million units (MU) respectively over 4,512.64 million units (MU) and 8,818.11 million units (MU) respectively in the corresponding period of the previous year.
Solar power generation during the quarter and half year ended 30 September 2020 stood at 492.14 million units (MU) and 994.59 million units (MU) respectively as compared to 325.59 million units (MU) and 590.30 million units (MU) respectively in the corresponding period of the previous year, with increase of 51.2% and 68.5% respectively in both the periods.
Shares of NLC India skid 3.47% to Rs 50.05 in a special one-hour Muhurat trading session on Saturday, 14 November 2020. The Indian stock market is shut today on account of Diwali Balipratipada.
NLC India, a Navratna CPSE and Coal India, a Maharatna CPSE, both under the administrative control of Ministry of Coal, executed a joint venture agreement on 3 July 2020 for formation of a joint venture company to develop solar and thermal power assets to the tune of 5,000 MW on pan India basis.
As of 30 September 2020, the Government of India held 79.20% stake in the company.
Source: capital markets
