Neyveli Lignite: Lignite steals the show - Views on News from Equitymaster

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Neyveli Lignite: Lignite steals the show

Nov 20, 2003

Power generation PSU, Neyveli Lignite Corporation, declared good results for the September quarter. While the topline of the company registered a growth of about 18% YoY, a significant increase in the other income component, propelled the bottomline by 121% YoY for the 2QFY04. However, the operating margins of the company dipped significantly owing to more than doubling of operating expenditure.

(Rs m) 2QFY03 2QFY04 Change 1HFY03 1HFY04 Change
Net sales 5,170 6,097 17.9% 10,877 12,470 14.6%
Other Income 485 3,814 685.9% 890 4,394 393.7%
Expenditure 2,469 5,136 108.0% 5,002 8,085 61.6%
Operating Profit (EBDIT) 2,701 961 -64.4% 5,875 4,385 -25.4%
Operating Profit Margin (%) 52.2% 15.8%   54.0% 35.2%  
Interest 5 164 3000.0% 16 322 1976.8%
Depreciation 588 1,236 110.1% 1,231 2,409 95.6%
Profit before Tax 2,592 3,375 30.2% 5,518 6,049 9.6%
Tax 885 -402 -145.4% 1,893 430 -77.3%
Profit after Tax/(Loss) 1,707 3,777 121.2% 3,625 5,619 55.0%
Net profit margin (%) 33.0% 61.9%   33.3% 45.1%  
No. of Shares (m) 1,677.7 1,677.7   1,677.7 1,677.7  
Diluted Earnings per share* 4.1 9.0   4.3 6.7  
(*annualised)            

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