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Neyveli Lignite Q4 net drops 19 Percent to INR 494 Cr

Neyveli Lignite Corporation on Friday reported 19.5 per cent drop in standalone net profit to INR 494.43 crore for the quarter ended March 31, due to higher expenses. The company’s net profit in the corresponding quarter of the year-ago period was INR 614.79 crore, the company said in a filing .

The company’s total income from operations, however, went up to INR 1,709.89 crore from INR 1,653.35 crore in January-March quarter of the year-ago period, it said. Its total expenses increased to INR 1,167.74 crore from INR 1,016.76 crore in the corresponding quarter, it added. However, the consolidated net profit for the year ended March 31, 2014 increased to INR 1,501.88 crore from INR 1,458.74 crore in FY’13, it said. The company’s board of directors has recommended a final dividend of INR 1.80 per share for the year ended March 31.

Source-On Request