Neyveli Lignite Corporation witnessed a sharp fall in share price on Thursday after the company disclosed a substantial drop in standalone net profit for the quarter ended December 2015. During the quarter, the profit of the company declined 84.62% to Rs 476.10 million from Rs 3,094.70 million  in the same quarter previous year.

Revenues for the quarter declined 15.90% to Rs 12,552.50 million, compared with Rs 14,926.50 million for the prior year period.

Operating margin for the quarter stood at 3.88 percent  as compared to 19.24 percent for the previous year period.  Operating Income for the quarter was Rs 487.40 million, compared with Rs 2871.3 million in the previous year period.

Shares of Neyveli Lignite Corporation are trading at Rs 72.40, down Rs 3.3, or 4.36% at the Bombay Stock Exchange (BSE) on Thursday at 9:35 a.m.

Total volume of shares traded on the bourses today was lower by 9.92% to 62,849 compared with 22-day average volume of 69,772.