NLC India down after Q4 profit falls

NLC India

16/05/2024 06:45

** Shares of state-owned NLC India  NLCI.NS  down as much as
7.5% to 212.30 rupees
    ** The coal miner reported an 86.2% Y/Y fall in its
March-qtr consolidated net profit at 1.14 bln rupees ($13.7 mln)
    ** Revenue from operations fell 31% Y/Y 
    ** More than 6.9 mln shares changes hands, 1.2x its 30-day
avg
    ** NLCI stock on track to snap four straight sessions of
gains, if current trend holds
    ** Including session's move, stock down 11.8% this year, vs
a 7% rise in the Nifty 500 index  .NIFTY500 


    ($1 = 83.4710 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))