Neyveli Lignite Corporation Ltd's Q1FY19 standalone net profit rises 0.5% yoy to Rs320cr

The company’s standalone revenue in the period stood at Rs1,697cr, down 24.7% yoy and 33.3% qoq

Aug 14, 2018 12:08 IST India Infoline Research Team

Neyveli Lignite Corporation Ltd Q1FY19

Standalone Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 1,697 [24.7]
EBITDA 338 [58.1]
EBITDA Margin (%) 19.9 [1,587]
Net Profit (adjusted) 320 0.5
***EBITDA margin change is bps

NLC India Ltd reported de-growth for revenue and EBITDA in Q1FY19. Revenue fell 24.7% yoy to Rs1,697cr. EBITDA stood at Rs338cr, down 58.1% yoy. EBIDTA margin fell 1,587bps yoy to 19.9%. Adjusted net profit stood at Rs320cr, up 0.5% yoy, after adjusting for exceptional items.
  • Revenue was impacted in Q1FY19 due to a 7.4% yoy decrease in power generation. This decline in power generation was due to a major overhauling of two thermal units. Power generation for the quarter stood at 4,884mn units.
  • Net power surrender stood at 485mn units in the quarter, down 36.5% yoy.
  • Open market sale of lignite stood at 5.17 lakh ton for the quarter against a sale of 83,000 tonnes in Q1FY18. This sale of lignite raised revenue for the quarter by Rs74cr.
  • During the quarter, NLC India commissioned 200MW of solar power.
  • Employee costs rose 6.4% yoy. This included a Rs35.3cr estimated provision towards pay revision of non-executive employees.
  • Net profit showed a marginal increase yoy due to a 76% yoy rise in other income.

Technical View:

NLC India Ltd ended at Rs77.90, up 0.4 points, or 0.52%, from its previous close of Rs77.50 on the BSE. The scrip opened at Rs77.55 and  touched a high and low of Rs78.70 and Rs77.45, respectively. A total of 2,36,910 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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