Nalco Q1 Net Down by 5% to Rs129 Cr

Bhubaneswar: The Central-sector National Aluminium Company Limited (Nalco) has posted a net profit of Rs 129 crore in Q1 of the current fiscal, down by 5% compared to Rs135 crore earned during the same period last year.

The Nalco board of directors took note of the financial result for the April-June period of 2017-18, here on Wednesday.

“Considering the sluggishness of international metal market, NALCO’s performance is considered to be a ‘Silver Lining’ amidst the downturn in both domestic and overseas markets”, said the Nalco CMD AK Chand.

Even though the net profit has slipped, the company’s operating profit is up by 45% during the discussed period.

Nalco, however, has achieved remarkable growth in production in all fronts. During the quarter, bauxite production was 18.81 lakh tonnes, thereby registering 10.4% growth over 17.04 lakh tonnes produced in the corresponding period of previous year. Alumina hydrate production was 5.26 lakh tonnes, which is 0.4% higher as compared to 5.24 lakh tonnes produced during the corresponding period of last fiscal. During the quarter, the company produced 1,00,695 tonnes of aluminium, which is 6.6% higher than 94,496 tonnes produced in the 1^st quarter of previous financial year. The net power generated during the quarter was 1599 million units. This has gone up by 7.4%, against 1489 million units generated in the corresponding period of last year. Besides, in the field of renewable energy, the company has generated 88 million units of wind power during these three months.

The total alumina sale during the quarter was 2.59 lakh tonnes and aluminium sale was 88,752 tonnes.

PRODUCTION HIGHLIGHTS