NLC India Q2 Results: Profit Drops 9.5% To Rs 982 Crore

State-owned NLC India Ltd., on Friday reported a 9.5% decline in consolidated profit at Rs 982.41 crore for the quarter ended Sept. 30, 2024. The company had posted a consolidated profit of Rs 1,085.93 crore in the year-ago period, NLC India said in a regulatory filing.

However, the revenue from operations in the July-September quarter increased to Rs 3,657.27 crore, over Rs 2,977.53 crore in the year-ago period.

NLC India is a navratna company under the Ministry of Coal. Its core business is mining and power generation.

NLC India Ltd., reported a 37% year-on-year advance in net profit for the first quarter of this financial year, beating analysts' estimates.

The public sector enterprise recorded a net profit of Rs 566.69 crore for the quarter-ended June, as compared to Rs 413.57 crore over the same period last year, according to its stock exchange notification. This was above the Rs 476-crore estimate by analysts tracked by Bloomberg.

Shares of the company closed 1.84% lower at Rs 239.45 apiece, as compared to a 0.9% decline in the NSE Nifty 50. The stock has fallen 5.62% year-to-date and risen 95.66% over the past 12 months.