In an interview to CNBC-TV18’s Latha Venkatesh, Sonia Shenoy, and Anuj Singhal, SK Acharya, chairman of NLC India spoke about the buyback and the interim dividend of Rs 7.34/share declared by the company. He also spoke about the outlook of the company going forward.
Speaking to CNBC-TV18, SK Acharya, Chairman NLC India said the company will achieve its FY17 growth target and dividends this fiscal will be better than FY16.
The Cabinet Committee on Economic Affairs (CCEA) has approved Neyveli Lignite Corporation's (NLC) proposal to set up a 1,980 megawatt (MW) thermal power plant in Uttar Pradesh (UP), Chairman SK Acharya told CNBC-TV18.
Neyveli Lignite has long-term borrowings of Rs 7000 crore. Financing for the power station will come from cash reserves, says SK Acharya, chairman of Neyveli Lignite.
SK Acharya blames flooding for Neyveli‘s subdued performance in third quarter of this fiscal but expects revenue to grow in the fourth quarter year-on-year (YoY).
The government has allotted Talabira II & III coal mines to the company to meet coal requirements for their power projects, said SK Acharya, Chairman, Neyveli Lignite
Neyveli Lignite posted a 22 percent rise in its net sales to Rs 1,716 crore. Speaking to CNBC-TV18, SK Acharya, Chairman, Neyveli Lignite