Neyveli Lignite Corporation Sept quarter net profit drops 28 pct to Rs 240 cr

Written by PTI | New Delhi | Updated: Oct 27 2013, 00:14am hrs
Neyveli Lignite CorporationThe total expenses of Neyveli Lignite Corporation in the second quarter this fiscal stood at Rs 1107 cr.
State-owned Neyveli Lignite Corporation (NLC) today reported 28.3 per cent fall in net profit at Rs 240 crore for the quarter to September due to higher expenses.

The company's net profit during the corresponding quarter last fiscal stood at Rs 334.84 crore, the company said in a filing to BSE.

The total income from operations of the company, however, went up to Rs 1382.82 crore in July-September 2013 over Rs 1349.21 crore in the same quarter of the last fiscal, it said.

The total expenses of the company in the second quarter this fiscal stood at Rs 1107.03 crore, registering an increase of 14.7 per cent over Rs 964.51 crore same quarter last year.

"Employee benefit expenses for the current quarter include Rs 35.80 crore towards provision for pay revision and other benefits in respect of non-executives," the company said.