Neyveli Lignite Corporation today reported 19.5 per cent drop in standalone net profit to Rs 494.43 crore for the quarter ended March 31, due to higher expenses.
The company's net profit in the corresponding quarter of the year-ago period was Rs 614.79 crore, the company said in a filing to BSE.
The company's total income from operations, however, went up to Rs 1,709.89 crore from Rs 1,653.35 crore in January-March quarter of the year-ago period, it said.
Its total expenses increased to Rs 1,167.74 crore from Rs 1,016.76 crore in the corresponding quarter, it added.
However, the consolidated net profit for the year ended March 31, 2014 increased to Rs 1,501.88 crore from Rs 1,458.74 crore in FY'13, it said.
The company's board of directors has recommended a final dividend of Rs 1.80 per share for the year ended March 31.