Bhubaneswar: The Navratna PSU National Aluminium Company Limited (Nalco), the country’s leading manufacturer and exporter of alumina and aluminium, recorded net profit of Rs 722 crore when compared with net profit of Rs 144 crore for the same period last fiscal. The company posted net sales of Rs 2,360 crore in third quarter. With this, the company has been able to break the highest-ever net profit figures in a quarter during the last ten years, Nalco said in an official release.
“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,” said Dr Tapan Kumar Chand, CMD, Nalco.
The net profit for 9 months ended December 2017 surged 171 percent to Rs 1,085 crore when compared with the corresponding figure of Rs 400 crore in the previous fiscal. The net sales for nine months were Rs 6,538 crore as compared to Rs 5,071 crore in the corresponding period the last financial year.
The company said it achieved record growth in production in all fronts. During the first nine months of the current fiscal, it achieved production of 54.40 lakh tonnes of bauxite, as compared to 53.23 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 15.51 lakh tonnes of alumina hydrate, against 15.27 lakh tonnes achieved in the corresponding period of the previous financial year.
Metal production was 3.17 lakh tonnes, against 2.86 lakh tonnes during the comparable nine months of the previous fiscal registering a growth of 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. (PNN)
