Neyveli Lignite Corporation (NLC) has registered a marginal rise of 4.08 % in net profit at R1,298.33 crore the year ended March 31, 2011, against the net profit of R1,247.46 crore in 2009-10.
Highlighting the reasons behind the modest performance of the company, AR Ansari, chairman, NLC said the company missed its capacity addition target of around 500 mega watt to 750 mega watt due to delay in the execution of orders by power equipments and boiler manufacturing PSU Bharat Heavy Electricals (Bhel).
The company has posted a sales turnover of R3,949.08 crore for 2010-11 and the board of directors had declared a dividend of R2.30 a share with a total outflow of R385.87 crore for the year.
The capacity addition could not be reached further due to delaying of couple of projects including 2X125 MW Rajasthan mine-cum-power project at Barsinagar in Bikaner district of Rajasthan, 2X250 MW Neyveli and 1,000 MW Tutucorin?Tamil Nadu Electricity Board(TNEB) joint venture power plants, he noted.