Neyveli Lignite Corporation Ltd's Q3FY19 standalone net profit declines 3.7% yoy to Rs326cr

The company’s standalone revenue stood at Rs1,874cr, up 9.8% yoy and 12% qoq

February 12, 2019 7:34 IST | India Infoline Research Team

Neyveli Lignite Corporation Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 1,874 9.8
EBITDA 556 [5.3]
EBITDA Margin (%) 29.7 [473]
Net Profit (adjusted) 326 [3.7]
***EBITDA margin change is bps

NLC India Ltd reported de-growth in earnings in Q3FY19 despite of a slight rise in revenue for the quarter. Revenue rose by 9.8% yoy to Rs1,874cr. EBITDA stood at Rs556cr, down 5.3% yoy. EBIDTA margin fell by 473bps yoy to 29.7%. Adjusted Net Profit stood at Rs326cr, down 3.6% yoy.
  • Growth in revenue was supported by an 8.8% yoy increase in generation volumes. Generation volumes for the quarter stood at 5.4bn units.
  • EBITDA margins shrunk in Q3FY18 due in large part to a 15.6% yoy increase in employee costs. The company recorded a provision of Rs34.5cr towards pay revision for non-executive employees as well as Rs30cr towards impact from increased pay towards thermal unit employees.
  • Lignite production for the quarter stood at 61 lakh tonnes, down 3.3% yoy.
  • In December 2018, the company began power generation at the new 2 X 500 MW lignite plant at Neyveli.
  • Power surrender for the quarter stood at 247MW for the quarter, down 26.5% yoy.
  • Exceptional items for the quarter consisted of an amount of Rs16cr, which consisted of payment towards the company’s VRS scheme.

Technical View:

NLC India Ltd ended at Rs. 64.70, up by 1.95 points or 3.11% from its previous closing of Rs. 62.75 on the BSE.
The scrip opened at Rs. 62 and touched a high and low of Rs. 68.70 and Rs. 61.70 respectively. A total of 3,24,034 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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