NLC Lignite and Coal Production Grows 25.98% in Q1 FY24
NLC India Limited announced 25.98% growth for its Lignite and Coal Production in Q1 FY24 with 90.18 LT. Read to get more details here.
by Damodharan N
Updated Jul 02, 2024
NLC India Limited (NLCIL) has reported significant growth in its lignite and coal production for the first quarter of the fiscal year 2024-25. According to the latest data, the company's lignite production surged by 22.12%, reaching 61.72 LT compared to 50.54 LT in the same period last fiscal year.
Similarly, coal production saw a notable increase of 5.27%, rising to 28.46 LT from 21.04 LT previously. Together, NLCIL's combined lignite and coal production reached 90.18 LT, marking a robust growth of 25.98% over the 71.58 LT recorded in Q1 FY 2023-24.
In addition to its mining achievements, NLCIL also reported an uptick in gross power generation, totaling 7,553.62 million units (MU) during the quarter, a 10.38% increase compared to 6,843.09 MU in Q1 FY 2023-24. The company's renewable power generation stood at 546.63 MU, slightly up from 539.28 MU in the corresponding quarter last fiscal year.
Furthermore, NLCIL's market capitalization saw a rise of 5.28%, climbing from Rs. 228.10 per share to Rs. 240.15 per share. This growth reflects the company's strong performance and strategic initiatives in the energy sector amidst evolving market dynamics.
NLCIL continues to focus on enhancing its operational efficiencies and expanding its energy portfolio, aiming to sustain its growth momentum throughout the fiscal year.
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NLC India Limited
NLC India Limited (NLC), formerly known as Neyveli Lignite Corporation India Limited, operates under the Ministry of Coal, Government of India. The company primarily mines lignite, producing approximately 30 million tonnes annually from opencast mines located in Neyveli, Tamil Nadu, and Barsingsar, Rajasthan.
This lignite is used to fuel pithead thermal power stations with a combined capacity of 3,640 MW, generating electricity. NLC also operates a 1,000 MW thermal power station using coal through a joint venture. In recent years, NLC has diversified into renewable energy, notably installing a 1,404 MW solar power plant utilizing photovoltaic cells and producing 51 MW from windmills.
This expansion into renewables underscores NLC's commitment to sustainable energy practices alongside its traditional thermal power operations.
NLC Lignite and Coal Production Grows 25.98% in Q1 FY24 - FAQs
1. What is NLC India Limited?
NLC India Limited is a government-owned company involved in lignite and coal mining and power generation.
2. Where does NLC mine lignite?
NLC mines lignite in Neyveli, Tamil Nadu, and Barsingsar, Rajasthan, India
3. How much did NLC's lignite production grow in Q1 FY24?
NLC's lignite production grew by 22.12% to 61.72 LT in Q1 FY24.
4. How much did NLC's coal production increase in Q1 FY24?
NLC's coal production increased by 5.27% to 28.46 LT in Q1 FY24.
5. What was NLC's combined lignite and coal production in Q1 FY24?
NLC's combined lignite and coal production was 90.18 LT, a growth of 25.98%.
6. How much electricity did NLC generate in Q1 FY24?
NLC generated 7,553.62 million units (MU) of electricity, up by 10.38% from Q1 FY 2023-24.
7. What was NLC's renewable power generation in Q1 FY24?
NLC's renewable power generation was 546.63 MU, slightly higher than 539.28 MU in the same quarter last year.
8. How much did NLC's market capitalization increase in Q1 FY24?
NLC's market capitalization increased by 5.28%, rising from Rs. 228.10 to Rs. 240.15 per share.
9. What are NLC's main operations besides lignite and coal mining?
NLC operates thermal power stations with a total capacity of 3,640 MW and has ventured into renewable energy with a large solar power plant.
10. What is NLC's strategic focus for the fiscal year 2024-25?
NLC aims to enhance operational efficiency, expand its energy portfolio, and sustain growth momentum in the evolving energy market.