Press Trust of India
New Delhi, August 12: State-run National Aluminium Company (Nalco) Wednesday reported a 40 per cent decline in its net profit at Rs 163.44 crore for the quarter ended June 30, 2015. The company had posted a net profit of Rs 270.99 crore in the year-ago period, it said in a BSE filing.
Total income of the aluminium producer fell by 16 per cent to Rs 1,491.27 crore in April-June quarter of this fiscal against Rs 1,680.04 crore in the same quarter of 2014-15. Total expenses of the company fell to Rs 1,366.55 crore from Rs 1,499.06 crore in the reported quarter.
Net sales the Bhubaneswar-based firm from aluminium fell to 1,042.26 crore in the June quarter of 2015-16 from Rs 1,042.62 crore in the same quarter in 2014-15. The aluminium unit reported a loss of Rs 13.89 crore before taxes and interest against a profit of Rs 31.09 crore.
The navaratna public sector undertaking’s shares today fell by 3.81 per cent to settle at Rs 36.65 apiece on the BSE.
The aluminium major has recently said that it would increase its focus on diversification to increase profitability and reduce concentration risk. The state-owned firm will also pursue its expansion plans to scale up production capacity despite lower aluminium prices in the international market.
