NLC India Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Operating Revenue	162,515	152,830	130,013	161,652	119,479	98,461
Other Revenue	-	-	-	1,373	-	-
Revenue	162,515	152,830	130,013	163,025	119,479	98,461
Revenue Growth (YoY)	17.70%	17.55%	-20.25%	36.45%	21.35%	-4.60%
Fuel & Purchased Power	26,364	22,619	17,440	22,001	11,766	15,633
Selling, General & Admin	-	-	-	-	-	15.3
Depreciation & Amortization	21,257	18,843	18,249	18,008	19,087	16,114
Other Operating Expenses	82,256	78,111	75,565	76,164	59,891	36,401
Total Operating Expenses	129,877	119,572	111,254	116,172	90,744	68,163
Operating Income	32,638	33,257	18,760	46,853	28,736	30,298
Interest Expense	-11,452	-9,271	-8,443	-8,973	-9,783	-13,070
Interest Income	8,555	8,555	5,829	4,863	1,169	1,134
Net Interest Expense	-2,897	-716.2	-2,614	-4,110	-8,614	-11,935
Income (Loss) on Equity Investments	3.1	2.4	2.5	9.7	5.2	0.7
Currency Exchange Gain (Loss)	7.5	7.5	-12.6	2	9.7	119.5
Other Non-Operating Income (Expenses)	2,578	4,179	12,839	-21,985	2,420	4,017
EBT Excluding Unusual Items	32,330	36,730	28,975	20,770	22,557	22,500
Restructuring Charges	-	-	-	-1.1	-1.4	-1.4
Gain (Loss) on Sale of Assets	330.9	330.9	-92.6	71.8	22.8	28.9
Asset Writedown	-89.5	-89.5	-63.6	-151.1	-441.8	-89
Insurance Settlements	-	-	-	-	-	500
Other Unusual Items	-	-	-	-122.1	3,900	-706.8
Pretax Income	32,571	36,972	28,819	20,568	26,037	22,231
Income Tax Expense	5,286	9,836	10,143	6,307	14,880	9,090
Earnings From Continuing Ops.	27,285	27,136	18,676	14,261	11,157	13,141
Net Income to Company	27,285	27,136	18,676	14,261	11,157	13,141
Minority Interest in Earnings	-1,157	-922.5	-134.9	-304.2	-230.8	-322.3
Net Income	26,128	26,214	18,541	13,957	10,926	12,819
Net Income to Common	26,128	26,214	18,541	13,957	10,926	12,819
Net Income Growth	42.31%	41.38%	32.84%	27.74%	-14.77%	-11.06%
Shares Outstanding (Basic)	1,376	1,387	1,387	1,387	1,387	1,387
Shares Outstanding (Diluted)	1,378	1,387	1,387	1,387	1,387	1,387
Shares Change (YoY)	1.57%	-	-	-	-	-
EPS (Basic)	18.98	18.90	13.37	10.07	7.88	9.24
EPS (Diluted)	18.97	18.90	13.37	10.07	7.88	9.24
EPS Growth	40.12%	41.38%	32.84%	27.74%	-14.77%	-11.06%
Free Cash Flow	2,174	16,369	23,443	15,680	68,291	20,678
Free Cash Flow Per Share	1.58	11.80	16.91	11.31	49.25	14.91
Dividend Per Share	5.100	3.000	3.000	3.500	3.000	2.500
Dividend Growth	13.33%	-	-14.29%	16.67%	20.00%	-64.59%
Profit Margin	16.08%	17.15%	14.26%	8.56%	9.14%	13.02%
Free Cash Flow Margin	1.34%	10.71%	18.03%	9.62%	57.16%	21.00%
EBITDA	53,797	52,002	36,961	64,822	47,776	46,384
EBITDA Margin	33.10%	34.03%	28.43%	39.76%	39.99%	47.11%
D&A For EBITDA	21,159	18,745	18,201	17,969	19,040	16,086
EBIT	32,638	33,257	18,760	46,853	28,736	30,298
EBIT Margin	20.08%	21.76%	14.43%	28.74%	24.05%	30.77%
Effective Tax Rate	16.23%	26.60%	35.20%	30.66%	57.15%	40.89%
Revenue as Reported	173,353	168,895	139,485	173,832	125,460	117,984

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.