NLC India posts weak results

NLC India posted weak results citing lower revenues and poor operational performance due to heightened employee benefit expenses.

The total revenue for the quarter declined by 13.5 per cent yoy to Rs. 2,453 crore in Q4FY18 vs Rs. 2,835 crore in Q4FY17. This was largely due to lower mining revenues in the quarter.

The EBITDA for the quarter also declined by 52.4 per cent yoy to Rs. 789 crore in Q4FY18 vs Rs. 1,657 crore in Q4FY17. Similarly, the margins for the quarter also contracted substantially by 26 per cent. The EBITDA margin for the quarter stood at 32.2 per cent vs 58.4 per cent in Q4FY17. This was largely due to substantial increase in employee benefit expenses, which doubled due to implementation of 7th pay commission.

The adjusted net profit for the quarter also declined by 79.3 per cent to Rs. 487 crore in Q4FY18 vs Rs. 2,357 crore in Q4FY17.

For the full year company recorded marginal decline in revenue by 1.8 per cent yoy to Rs. 8,496 crore in FY18 vs Rs. 8,653 crore in FY17. The EBITDA for the quarter rose by 23.3 per cent to Rs. 3,706 crore in FY18 vs Rs. 3,006 crore in FY17. The net profit for FY18 stood at Rs. 1,848 crore vs Rs. 2,368 crore in FY17.

The stock closed 1.5 per cent down at Rs. 84.5 per share.