Bhubaneswar,Oct 24: The public sector National Aluminium Company Limited (NALCO), India's largest manufacturer and exporter of alumina and aluminium, has achieved a net profit of Rs.439.73 crore for the second quarter of this fiscal.
According to an unaudited financial results for the 2nd quarter of 2007-08, the company, with a sales turnover of Rs.1432.12 has registered the net profit of Rs.439.73 crore. This was revealed at a meeting of the Board of Directors held in Vizag yesterday.
However, during the Q2 of previous fiscal, the figures were up at Rs.595 crore and Rs.1582.65 crore respectively.
The net profit and sales turnover for the half year ended September 2007 worked out to Rs.886.39 crore and Rs.2719.24 crore respectively, as against the corresponding figures of Rs.1217.30 crore and Rs.3203.47 crore achieved during the first six months of the previous fiscal.
NALCO attributed the lower realization primarily due to lower global alumina prices and a rising rupee. This apart the supply of coal, a major raw material, was also adversely affected during the 2nd quarter, which compelled the company to resort to use of imported coal and purchase of power from external sources resulting in additional expenditure of Rs.39.75 crore during the quarter, the sources said.