Nalco registers Rs 135 cr profit in Q1

Bhubaneswar, Sep 12 (IANS) National Aluminium Company Limited (Nalco) on Monday announced a Rs 135 crore profit in the first quarter of 2016-17, against Rs174 crore in the same period of 2015-16.

According to the reviewed financial results for the first quarter, taken on record by the Board of Directors at a meeting held here in Bhubaneswar on Monday, Nalco has registered a net profit of Rs 135 crore, a company statement said, adding that it achieved remarkable growth in production in all fronts, but despite the quantum jump, profits during the quarter took a dip due to low market realisation.

However, considering the sluggishness in the international metal market, Nalco’s performance is considered to be a ‘silver lining’ amidst the downturn in both domestic and overseas markets, it said.

During the quarter, the quantum of bauxite production was 17.04 lakh tonnes, about 46 per cent higher than 11.64 lakh tonnes produced in the corresponding period of previous year, while alumina hydrate production was 5.24 lakh tonnes, 35 per cent higher as compared to 3.88 lakh tonnes during the same period last year, the statement said.

During the quarter, the company produced 94,496 tonnes of aluminium, about 10 per cent higher than 85,722 tonnes in the same period last fiscal, while the net power generated during the quarter was 1,489 million units, up by around 10 per cent, against 1,358 million units generated in the corresponding period of last year.

Besides, in the field of renewable energy, the company generated 52 million units of wind power in this period.

The total alumina sale during the quarter was 2.91 lakh tonnes and aluminium sale was 82,386 tonnes.

–IANS

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