Nalco's Q1 net profit down 41% | business | Hindustan Times
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Nalco's Q1 net profit down 41%

The state-run National Aluminium Company Ltd (NALCO) today said it has recorded a 41% decline in net profit in the first quarter ended June against the same quarter of the previous fiscal.

business Updated: Aug 16, 2012 18:26 IST

The state-run National Aluminium Company Ltd (NALCO) on Thursday said it has recorded a 41% decline in net profit in the first quarter ended June against the same quarter of the previous fiscal.

Nalco has registered a net profit of Rs223 crore in the first quarter of the 2012-13 financial year, as against Rs377 crore in the same quarter of the previous fiscal, the company said in a statement.

The net sales have gone down marginally to Rs1,718 crore, as against Rs1,733 crore in the comparable quarter of the previous fiscal.

On the production front, while bauxite production during this quarter increased to 11.42 lakh tonnes against 11.21 lakh tonnes in the corresponding quarter of last year, aluminium production has gone up to 4.76 lakh tonnes against 4 lakh tonnes during the comparable quarter last year, it said.

During the quarter, power generation was slightly lower at 1,614 million units from 1,679 million units, and aluminium production was 1.03 lakh tonnes as against 1.11 lakh tonnes achieved in the first quarter of the previous fiscal.

As regards metal sales, Nalco sold 1.02 lakh tonnes in the first quarter as against 1.09 lakh tonnes in the corresponding period of the previous year, the company said.

The reviewed financial results for the period were taken on record at the meeting of the board of directors held in Bhubaneswar on Tuesday, it said. The Bhubaneswar headquartered Nalco is India's third largest aluminium maker.