NLC India Q2: Shares slide despite margin surge

State-run NLC India Ltd reported a 27.1% year-on-year decline in consolidated net profit for the quarter ended September 2025 at ₹665 crore, compared with ₹912 crore in the corresponding quarter last year.

Revenue from operations rose 14% to ₹4,178.4 crore from ₹3,657.3 crore a year ago, supported by higher output and improved realisations for the Chennai-based lignite coal miner.

Operating performance was stronger, with earnings before interest, tax, depreciation, and amortisation (EBITDA) up 30.5% year-on-year to ₹1,400 crore from ₹1,073 crore.

EBITDA margin expanded to 33.5% from 29.3% in the same period last year.

The board also granted in-principle approval to invest up to ₹666 crore in its subsidiary, NLC India Renewables Ltd, to support its growth plans in the clean energy segment.

In addition, the company said it will borrow ₹1,200 crore from Punjab National Bank to refinance an existing rupee term loan linked to its 1,000 megawatt (MW) power project.