Bhubaneswar: The National Aluminium Company Limited (Nalco) has posted a net profit of Rs 722 crore in October-December quarter of current fiscal, highest in a quarter in last ten years.
The Company’s profit has increased by 207% from Rs 235 crore posted in the second quarter and Rs 144 crore in the corresponding quarter in the last fiscal.
It has achieved a sales turnover of Rs 2360 crore during the third quarter.
Nalco Board meeting, which held here on Friday, declared its financial result for the third quarter ending December 31, 2017.
The Nalco CMD Dr. TK Chand said, operational efficiency, cost reduction, strategic management decisions and teamwork in the Company played a key role in achieving the record profit. “With robust monetary policy of the government and demand-supply dynamics brightening, aided by growth in the construction and power sectors, pick-up in the automobile segment as well as firming up of aluminium prices globally, we hope to post similar results in the next mandate,” he added.
In the first three quarters of the current fiscal, the Company has posted a net profit of Rs 1,085 crore, an increase of 171% as compared to Rs 400 crore achieved during the same period the previous fiscal. The turnover during the period is Rs 6,538 crore as compared to Rs 5,071 crore in the corresponding period of the last financial year.
On production front, Nalco has also achieved record growth . During the first nine months of the current fiscal, the Company achieved production of 54.40 lakh tonnes of bauxite, 15.51 lakh tonnes of alumina, and 3.17 lakh tonnes of aluminium as compared to 53.23 lakh tonnes of bauxites, alumina and aluminium respectively achieved during the comparable period of the previous fiscal. The growth in aluminium production is 11%.
The net power generated during the period was 4,897 million units, up by 9 % compared to 4,494 million units achieved in the corresponding period of the previous year. The company generated 211 million units of wind power during the first nine months of this fiscal.
