A photograph of one of the lignite mines at NLCIL.
According to a press release, NLCIL’s net profit rose by 31% in the just concluded fiscal year ending on March 31 due to additional capacities added, power purchase agreements and record levels of coal and lignite production, as well as power generation made over the past twelve months.
Among its performance highlights, this public sector undertaking (PSU) listed all-time high coal and lignite production of 36.32 MT which includes despatching 11.76 MT from Talabira Mine; highest-ever lignite production of 2.10 MT from Barsingsar Mines and 5.59 MT of Lignite production from Mine-IA.
Power generation also reached unprecedented peaks of 2,153.41 million units (MU) in Thermal Power Station (TPS) II and another peak at Barsingsar thermal power facility was recorded where it generated1,692.05 MU.
Profit After Tax (PAT) stood at ₹1,847 crore as against ₹1,248 crore in FY20 showing an increase by 48%, while Profit Before Tax (PBT) increased by62% to coincide with PAT numbers disclosing₹2,788 crore compared to the previous financial year’s ₹1,724 crores.NLCIL said that this is its highest PBT for the last decade.
NLCIL also won bids for North Dhadu-Coal Mine West Latehar district (Jharkhand), A commercial coal mining auction and a solar project called Barsingsar Rajasthan along with laying foundation stone for the Talabira Thermal Power Plant Odisha which has a capacity of about2400 MW.
For Neyveli Mine II development according to NLCIL it was necessary to solve long standing problem concerning permanent diversion of Paravanar River Junction.
The company also entered into several PPAs such as GSECL’s Solar Park at Khavda, Gujarat where a 600 MW SPP was agreed, and signed several MoUs including one with Rajasthan Rajya Vidyut Utpadan Nigam for setting up of 1000 MW solar power plants and a joint venture to install125 MW Thermal Power Plant.
NLCIL has said that the Central government also approved implementation of Pachwara South Coal Block (PSCB) Project by Neyveli Uttar Pradesh Power Ltd (NUPPL), a joint venture with NLCIL at an estimated capital cost of ₹2242.90 crore.
