With all pending land acquisition issues resolved, NLC India's CMD, M Prasanna Kumar is hopeful of meeting FY24 production targets.

“Last two quarters there was some problem in the lignite production because of land acquisition issues. We have now sorted out all the issues. We are hopeful that in Q3 and Q4, we will be able to augment the production to the required level and reach the target by the end of the financial year,” he said.

For the current financial year, NLC India aimed to achieve a production of 14.4 million metric tonnes versus the previous year's 10 million metric tonnes.

The state-owned firm on Thursday (October 26) reported its second-quarter financial results. Its net profit increased 164% year-on-year to ₹1,084.7 crore while total revenue declined around 15% to ₹2,988.5 crore.

Coal mining output surpassed the previous year's output but lignite mining faced challenges in the first half of the financial year, again due to land acquisition issues.

"In both mining and power generation, the company will pick up pace in the second half of the year to reach the targets."

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The share price has shown no significant movement in the last month.

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