National Aluminium Company Limited (Nalco) posted its financial results for the second quarter ended September 2017. The company achieved net profit of INR 235 crore, from INR 121 crore in the corresponding quarter of previous fiscal.
Nalco’s net sale was INR 2420 crore in July- September quarter, from INR 1695 crore in the corresponding quarter of last year.
Dr. Tapan Kumar Chand, CMD of Nalco said, “The market harvesting in alumina segment and focus on cost reduction have helped us improve our profitability. When the global metal market was in the slump cycle, NALCO maintained its resilience and faced the international downturn with courage by ramping up production.”
For the half year ended September 2017, the company’s net profit and gross sales turnover was at INR 364 crore and INR 4179 crore.
During this period, Nalco produced 2.06 lakh tonnes of aluminium, up 10.25 per cent. The company sold 2.02 lakh tonnes of aluminium, which is up 14.19% compared to the corresponding period of the previous fiscal.
Nalco’s mined 37.06 lakh tonnes of bauxite, while alumina hydrate production was 10.35 lakh tones. The company’s alumina hydrate sale was up 9.98% at 6.39 lakh tonnes as compared to the first six months of 2016-17.