Navaratna PSU
National Aluminium Company Ltd (Nalco) has registered an impressive 32 per cent in its net profit to Rs 377 crore in the first quarter ended June 30.
The company had posted a net profit of Rs 284 crore in the corresponding period last year.
According to the results taken on record at a meeting of the Board of Directors in New Delhi on Friday, the company has reported a sales turnover of Rs 1,851 crore, an increase of 33 per cent, compared to Rs 1,388 crore in the corresponding quarter of last year.
The impressive results are attributable "to enhanced volumes and better sales realisation", Nalco Chairman and Managing Director B L Bagra said.
Particularly, considerably higher volume of 1.83 lakh tonnes of alumina exported during the quarter, compared to 0.99 lakh tonnes in the first quarter of last year, was the main contributor towards rise in sales and profit, he said.
On the production front too, Nalco has put up an impressive performance, Bagra said, adding that bauxite production during the April-June quarter increased to 11.21 lakh tonnes from 10.67 lakh tonnes in the corresponding quarter last year, while alumina production has gone up to 4 lakh tonnes against 3.88 lakh tonnes during the year-ago quarter.
Similarly, during the quarter, power generation increased to 1,679 million units from 1,659 million units. However, aluminium production was slightly less at 1.11 lakh tonnes as against 1.12 lakh tonnes in the first quarter of previous financial year.
In metal sales, Nalco sold almost same volume of 1.10 lakh tonnes of aluminium in the first quarter as in the corresponding period previous year.