Companies

Neyveli Lignite posts higher net at Rs 334 cr in Q2

PTI New Delhi | Updated on November 09, 2012 Published on November 09, 2012

Neyveli Lignite Corporation (NLC) on Friday reported 20 per cent rise in net profit at Rs 334 crore for the quarter ended September 30, as against Rs 278 crore recorded in the same period of last year.

The total income from operations for the current quarter was Rs 1,349 crore over Rs 1,099 crore for the same period of last fiscal.

The company’s total expenses for the period were Rs 964 crore which consisted of employee benefit expense of Rs 470 crore.

“Employee benefits expense for the quarter includes Rs 25.6 crore towards provision for pay revision and other benefits in respect of non—executives,” the statement said.

“NLC has declared a dividend at the rate of 28 per cent for the financial year 2011—12. The total dividend payout (including distribution tax) amounts to Rs 545.97 crore,” an official statement added.

Neyveli Lignite scrip closed at Rs 84.60 on the BSE, up 2.11 per cent, from its previous close.

Published on November 09, 2012
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