Navratna company NLC India declares dividend, scrip ended on a positive note

Since 1956, NLC India Ltd. has operated in the energy industry as a Navratna firm under the Ministry of Coal. The organisation has established its presence in the states of Tamil Nadu, Rajasthan, Uttar Pradesh, Odisha, Jharkhand, and the Andaman & Nicobar Islands under PAN India manner as of right now.

NLC India said in a stock exchange filing that the “Board of Directors have declared an Interim Dividend of 15.00% (i.e., Rs. 1.50 per equity share) for the Financial Year 2022-23. Further, in compliance of Regulation 42 of SEBI LODR, it is hereby informed that 24th February, 2023 has been fixed as the RECORD DATE for the purpose of ascertaining the members for entitlement of the above declared Interim Dividend for the FY 2022-23. It is further informed that the above interim dividend will be paid to the eligible Shareholders on or before 14th March, 2023.”

On a standalone basis, the company posted revenue from operations of ₹2,812.21 Cr in Q3FY23 compared to ₹2,423.59 Cr in Q3FY22, representing a growth of 16% YoY. NLC India recorded net expenses of ₹2,241.81 Cr in the quarter ended December 2022 against ₹2,134.94 Cr recorded in the quarter ended December 2021. The company recorded a net loss of ₹398.84 Cr in Q3FY23 compared to a net profit of ₹229.62 Cr in the year-ago quarter. The EPS of NLC India stood at a loss of ₹2.88 in Q3FY23 as compared to a gain of ₹1.66 in the year-ago quarter.

The company’s net segment-wise revenue of ₹3,955.48 Cr in Q3FY23 compared to ₹3,604.10 Cr in the year-ago quarter. The standalone revenue from Mining business stood at ₹1,521.49 Cr in Q3FY23 compared to ₹1,677.52 in the year-ago quarter whereas its revenue from Power business reached ₹2,433.99 Cr compared to ₹1,926.58 Cr in the same quarter of the previous financial year.

The shares of NLC India Limited closed today on the NSE at ₹79.30 apiece level, up by 0.57% from the previous close of ₹78.85.

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