Wednesday, February 2, 2011

NEYVELI LIGNITE CORPORATION = RESULTS = Q3 FY 2011 = QTR ENDING DECEMBER 2010 = SALES & PROFITS AFFECTED DUE TO RAINS




Neyveli Lignite Corporation Limited
NSE Symbol NEYVELILIG


Neyveli Lignite Corporation has declared disappointing results for 3rd quarter ending December,2010.

NET SALES  are down to Rs.869 cr – down by 18.25% from previous qtr  and by 30.56% from Q3 fy 10.

Total expenditure : is at Rs.854 cr – up by 5.26% from Q2 FY 11 and by 1.96% from Q3 FY 10.

Profit from Operations is a dismal Rs.16 cr – down by 93.84% from Q2 FY 11 and by 96.25% from Q3 FY 10.

NET PROFIT : is also down to Rs.96      cr – down by 64.9% from Q2 FY 11 and by 74.11% from Q3 FY 10.

Basic EPS is also therefore down to Rs.0.57 from Rs.1.63 in Q2 FY 11 and Rs.2.22 in Q3 FY 10.

The company has said that incessant rain for 51 days has affected production, sales and profitability.

There was delay in commissioning of one downstream thermal power station TPS – II expansion at Barsingsar.

Hopefully, NLC will come out of these problems quickly. This is to be watched in the next two quarters.

Results table :

NEIVELI LIGNITE
31-Dec-10
30-Sep-10
30-Jun-10
31-Dec-09
Net Sales
86921
106320
114543
125173
DIF %1
869
-18.25
-24.11
-30.56
Increase/decrease in SIT / WIP
1809
937
-2209
-388
  Raw Materials
14625
11752
14723
14477
Employees Cost
40348
36596
36007
47587
Depreciation
9557
10359
9572
7228
Other Expenditure
19029
21456
18296
14821
Total Expenditure
85368
81100
76389
83725
DIF %2
854
5.26
11.75
1.96
Profit from Operations
1553
25220
38154
41448
DIF %3
16
-93.84
-95.93
-96.25
Other Income5
13092
16640
11249
13645
Interest6
2612
2697
2582
332
Tax expense
2426
11792
12611
17650
Net Profit
9607
27371
34210
37111
DIF %4
96
-64.9
-71.92
-74.11
Face Value (In Rs
10
10
10
10
Paid Up Equity
167771
167771
167771
167771
Basic EPS
0.57
1.63
2.04
2.22
Public holding (%)
6.44
6.44
6.44
6.44


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