NLC India swings back to profit in Q3; dividend of ₹1.50 per share declared
The company's revenue from operations dipped 14% to ₹3,164.4 crore against ₹3,679 crore in the corresponding period of the preceding fiscal. Shares of NLC India Ltd ended at ₹283.60, up by ₹8.05, or 2.92%, on the BSE.
State-owned firm NLC India Ltd (NLCIL) on Tuesday, February 6, reported a net profit of ₹250.4 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, NLC India posted a net loss of ₹406.7 crore, the company said in a regulatory filing. The company's revenue from operations dipped 14% to ₹3,164.4 crore against ₹3,679 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA tanked 33.5% to ₹904.7 crore in the third quarter of this fiscal over ₹1,359.7 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 28.6% in the reporting quarter versus 37% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The board has declared an interim dividend of 15% (i.e. ₹1.50 per equity share) for the financial year 2023-24. The record date for the purpose of ascertaining the members entitled to interim dividends for the FY 2023-24 has been fixed as February 16, 2024. It is further informed that the said interim dividend will be paid to eligible shareholders on or before March 6, 2024.
Dr Prasanna Kumar Acharya, Director (Finance), is designated as chief financial officer effective from February 6, 2024. The terms and conditions of his employment and remuneration shall be as per the extant policy of the company, it added.
The results came after the close of the market hours. Shares of NLC India Ltd ended at ₹283.60, up by ₹8.05, or 2.92%, on the BSE.
(Edited by : Shoma Bhattacharjee)
First Published: Feb 6, 2024 5:59 PM IST
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