Neyveli Lignite Corporation (NLC) today reported a marginal rise of 2.8 per cent in standalone net profit at Rs 605 crore for the fourth quarter of 2011-12 on the back of higher revenues.
The company had posted a net profit of Rs 588 crore for the January-March quarter of FY’12,it said in a filing to the BSE.
The standalone total income from operations of the public sector firm increased to Rs 1,509 crore against Rs 1,218 crore in the year-ago period.
The consolidated net profit of the company for year ended March 31,2012,went up to Rs 1,411 crore over Rs 1,298 crore in the previous year,it added.
The company also said the first unit of its Barsingar thermal power project began its commercial production in April this year.
The board of directors of the company have recommended a dividend of Rs 2.50 per share for the year ended March,2012,subject to the approval of the shareholders,it added. Shares of NLC closed at Rs 76.95 a piece,up 8.38 per cent high from the previous close on the BSE.