NLC India Ltd has announced the Unaudited Standalone financial results for the quarter ended June 30, 2016.
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State-owned Coal India reported on Tuesday 14.7% fall in consolidated net profit at Rs 3,065.28 crore for the quarter ended June 30, 2016, due to decline in sales.
Net sales rose to Rs 861.10 crore during the quarter under review, as compared to Rs 747.76 crore in the year-ago period.
The company had posted a net loss of Rs 149.14 crore in the same period past year, it said in a BSE filing.
The total income of the company increased to Rs 1,974.10 crore, from Rs 1,965.79 crore in the corresponding quarter of the previous fiscal. Its production during the quarter increased by 3.56% to 125.67 million tonnes (MT) compared to 121.35 MT in the same quarter of previous fiscal. Standalone total expenditure of the company stood at Rs 158.98 crore for the quarter under review against Rs 141.60 crore in the same quarter past year. Other income stood at Rs 1,130.6 crore, as of June 30.
The government has been pushing for higher production in Coal India and has set a target of 1 billion tonne production by 2022.
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The company envisaged production of 908.10 million tonnes in 2019-20 with a Compound Annual Growth Rate of 12.98 per cent with respect to 2014-15.
