NLC India Ltd (NLCIL) recorded a 253% increase in profit after tax (PAT) for the third quarter ended December 31, 2023, with PAT shooting up to ₹1,673 crore from ₹474 crore in the corresponding period of the previous year.
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According to a press release from the Central Public Sector Undertaking, the company’s Unit I (600 MW) of Neyveli Uttar Pradesh Power Ltd (NUPPL), a joint venture of NLCIL and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd was successfully synchronised with the grid of Ghatampur Thermal Power Station on November 4, 2023.
It also pointed to other key developments including awarding of a contract to Bharat Heavy Electricals Limited (BHEL) to set up a pit head green field Thermal Power Project of 2,400 MW capacity at Jharsuguda district in Odisha.
The Q3 also saw the incorporation of NLC India Green Energy Limited (NIGEL) as a wholly-owned subsidiary.
The Profit Before Tax (PBT) for the period grew by 352% to ₹2,566 crore from ₹568 crore in the corresponding quarter of the previous year. The PSU also announced that the Earnings Before Interest, Tax and Depreciation and Amortisation (EBIDTA) of the company aggregated ₹4,137 crore as against ₹2,212 crore in the previous year.