NALCO's Q1 net profit up 32% at Rs 377 cr

Bhubaneswar, Aug 13: Navaratna PSU National Aluminium Company Limited (NALCO) has registered impressive results in the first quarter ended June 30 with net profit jumping by 32 per cent to Rs 377 crore from Rs 284 crore achieved in the corresponding period last year.

According to the results taken on record at a meeting of the Board of Directors in New Delhi yesterday, the company has reported a sales turnover of Rs.1851 crore, an increase of 33 per cent compared to Rs 1388 crore achieved in the corresponding quarter of last year.

The impressive results are "attributable to enhanced volumes and better sales realization," according to NALCO CMD B L Bagra.

Particularly, considerably higher volume of 1.83 lakh tonnes of alumina exported during the quarter, as compared to 0.99 lakh tonnes in the first quarter of last year, was the main contributor towards rise in sales and profit, he said.

On the production front too, NALCO has put up an impressive performance, said Bagra adding bauxite production during this quarter increased to 11.21 lakh tonnes against 10.67 lakh tonnes in the corresponding quarter last year, while alumina production has gone up to 4 lakh tonnes against 3.88 lakh tonnes during the comparable quarter.

Similarly, during the quarter, power generation increased to 1679 million units from 1659 million units.

However, aluminium production is slightly less at 1.11 lakh tonnes as against 1.12 lakh tonnes achieved in the first quarter of previous fiscal.

As regards metal sales, NALCO sold almost same volume of 1.10 lakh tonnes of aluminium in the first quarter as in the corresponding period previous year.

PTI