UPSC Current – NLC India Limited posts decline in net profit
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.