Nalco's Q1 profit up by 125 per cent

State-owned National Aluminium Company Limited today announced a 125 percent rise in net profit at Rs.284 crore for the first quarter ending June 30.

State-owned National Aluminium Company Limited (Nalco) on Saturday announced a 125 per cent rise in net profit at Rs.284 crore for the first quarter ending June 30.

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In the same quarter of the previous year, the company earned a profit of Rs.127 crore, the company said in a statement.

The company has also reported a sales turnover of Rs.1,388 crore, an increase of 43 percent compared to Rs.970 crore achieved in the corresponding quarter of the previous year.

The rise in sales and profit is attributed to enhanced production volume and sales, improved consumption norms of input materials and better sales realisation.

On production front too, Nalco said it has put up an impressive performance. Bauxite production during this quarter increased to 1,067,429 tonnes as against 840,328 tonnes in the corresponding quarter, the statement said.

Similarly, aluminium production increased to 111,663 tonnes from 104,767 tonnes and power generation to 1,659 million units from 1,600 million units.

On the sales front, Nalco sold 108,620 tonnes of aluminium in Q1 as against 93,104 tonnes in the corresponding period of previous year.

Domestic sale of aluminium also increased by 28 percent to 83,449 tonnes from 65,112 tonnes last year.