Neyveli Lignite Corp, the PSU is literally on fire today morning. The top gainer on the BSE, it is currently up over 9% at Rs.80, it remains closer to its intra day high of Rs.81.90. Volumes are huge at 1.08 lakh shares just in the morning session v/s 12,000 shares over  past two-week average.

The market is thrilled with the company’s performance for Q4 and FY15. Net profit for the quarter came in at Rs.677 crore, up 37% (YoY) though total income was down 2% at Rs.1710 crore.

The consolidated net profit for FY15 increased to Rs 1,580 crore, up 5% (YoY) on a  2% rise in total income at Rs.6088 crore. This was the highest net profit recorded in the company’s history since its inception, 59 years ago. It achieved more than 100% production its lignite mine production and power generation.

The PSU has a lignite capacity of 30.60 MTPA and power generation is at 2990 MW.  Looking ahead, the company is putting up a Lignite mine at Bithnok, linked to a thermal plant with a 250 MW at a cost of Rs.2700 crore. It is also setting up a Barsingsar Thermal Power Station and lignite mine in Hadla at a total cost of #8377;2,628 crore. The PSU is also looking at the option of reviving its lignite mining and power plant at Jayankondam in Tamil Nadu, though on a smaller scale – 500 MW power capacity v/s earlier envisaged 1500 MW.

The company will be soon commissioning two power projects at a total cost of Rs 10,000 crore, taking its total generation capacity to 4,240 MW.