Public-Sector power enterprise NLC India (NLCIL) on Saturday reported a 9.44% drop in its profit after tax (PAT) for the first quarter of FY’21 at Rs 292.54 crore as against Rs 323.04 crore in the corresponding period of the previous year. The total income of the company for the quarter ended was at Rs 2,386.86 crore as against Rs 1,904.03 crore in the corresponding period of the previous year, registering a growth of 25.36%.
During the quarter, the company recognised as an exceptional item, the one-time rebate of Rs 42.09 crore to discoms on account of Covid-19 pandemic based on guidelines issued by the Union power ministry, according to a release issued by the NLCIL. Power generation during the quarter stood at 5,698.60 MU as against 5,059.11 MU in the corresponding period of the previous year, registering a growth of 12.64% mainly on account of commissioning of unit-I of NNTPS (2X 500 MW) and of 709 MW solar project in the third quarter of the previous year, it said.