UPSC Current – NLC India Limited posts decline in net profit

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NLC India Limited posts decline in net profit

Why in News?

  • NLC India Ltd. (NLCIL), a Navratna company under the Ministry of Coal, posted a decline in net profit for the quarter ended September 30, 2020.

NLC India Limited (NLCIL)

 

  • NLCIL was formerly the Neyveli Lignite Corporation Limited.
  • It is a ‘Navratna’ company of the Government of India in the fossil fuel mining sector in India and thermal power generation.
  • It annually produces about 30 million tonne lignite from opencast mines at Neyveli in the state of Tamil Nadu and at Barsingsar in Bikaner district of Rajasthan state.
  • The lignite is used at pithead thermal power stations to produce electricity.
  • Lately, it has diversified into renewable energy production.
  • It has installed 1404 MW solar power plant to produce electricity from photovoltaic (PV) cells and 51 MW electricity from windmills.
  • It was incorporated in 1956, and it is under the administrative control of Ministry of Coal.



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