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The share price of the mid-cap stock fell around 7% to its intraday low of Rs 263.90 per share from its previous close of Rs 283.60 after the company announced its result and the business update for the third quarter. 

NLC India Ltd announced its financial results for the December quarter, interim dividend update, and business highlights for December in an exchange filing. 

Net revenue of NLC India Ltd fell by 14% from Rs 3,679 crore in Q3FY23 to Rs 3,164 crore in Q3FY24 on a sequential basis their net revenue rose by 6% from Rs 2,978 crore in Q2FY24 to its current level. 

The company reduced its net loss by 164% from a net loss of Rs 396 crore in Q3FY23 to Rs 254 crore in Q3FY24, how ever on a sequential basis; its net profit fell by 76% from Rs 1,086 crore in Q2FY24 to its current level. 

Furthermore, the company has announced an interim dividend of Rs. 1.50 per share for the fiscal year 2023-24, with the record date set for February 16th, 2024. 

According to their business highlights, NLC India Limited (NLCIL) recently reached significant milestones. Unit 1 (660 MW) of the Ghatampur Thermal Power Station is connected to the grid. NLCIL Mines received a 13-star rating, affirming its top position in the country. 

BHEL was awarded an EPC contract for Odisha’s Talabira Thermal Power Project. The Honorable Prime Minister laid the groundwork for this initiative. NLCIL formed a new subsidiary, NLC India Green Energy Ltd. (NIGEL), which focuses on green projects and initiatives. 

The company has a low price-to-earnings ratio of 19 when compared to its competitors, and NLC has a dividend yield of 1.28%. The company provided a multi-bagger return of 255% in the previous year; for example, if an investor invested Rs 1 lakh a year ago, the current value of the investment would be 3.55 lakh. 

NLC India supplies electricity to state DISCOMs in Southern India and Rajasthan. NLC is also involved in a number of mining and power generation projects that are currently being implemented. 

Written by Sriram KV 

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