Neyveli Lignite Corporation has reported a 10 per cent growth in net profit for the first quarter compared with the corresponding quarter previously.
NLC, a public sector company in lignite mining and power generation, has reported a net profit of ₹366.90 crore (₹334.05 crore) on a total income of ₹1,843.74 crore (₹1,510.45 crore) for the quarter ended June 30, 2015. The company has said that the Central Electricity Regulatory Commission’s tariff order of July 10, 2015, for Barsingsar Thermal Power Station has adversely impacted it.
It has the effect of reducing sale of power by ₹133 crore up to June 30, 2015, and increase in interest cost of ₹35 crore.
The company has filed a review and stay petition before the Commission.