Nalco records Rs 144 crore profit in Q3

Bhubaneswar, Feb 13:

National Aluminium Company Limited (Nalco) recorded a Rs 144-crore profit in the third quarter of the 2016-17 fiscal, it was announced on Monday.

According to the reviewed financial results for the 3rd quarter taken on record by the Board in a meeting held at Bhubaneswar on Monday, Nalco has achieved net profit of Rs 144 crore, as against Rs 121 crore in the preceding quarter and Rs 148 crore in the corresponding quarter of the previous fiscal.

The net sales turnover in the 3rd quarter was Rs 1,848 crore, said the statement.

In the third quarter, Nalco registered EBITDA (earnings before interest, tax, depreciation and amortization) Rs 361 crore as against Rs 282 crore in the corresponding period of previous fiscal 2015-16.

“It is heartening to note that Nalco has registered profits, in all the three quarters of the present fiscal, despite entire global aluminium industry reeling under severe market slowdown and many companies reporting loss,” said the company.

The net profit for the 9 months ended December 2016 work out to Rs 400 crore, against the corresponding figure of Rs 573 crore for the previous fiscal. The net sales for the 9 months of the fiscal is Rs 5,071 crore as compared to Rs 4,866 crore in the corresponding period of the last financial year.

Nalco has achieved growth in production in all fronts. During the first nine months of the current fiscal, it achieved production of 53.23 lakh tonnes of bauxite, as compared to 45.74 lakh tonnes in comparable period of the previous fiscal registering a robust 16 per cent growth, said the statement.

The company produced 15.27 lakh tonnes of alumina hydrate, against 14.37 lakh tonnes achieved in the corresponding period of the previous financial year. Metal production was 2.86 lakh tonnes, against 2.76 lakh tonnes registered during the comparable nine months of the previous fiscal.

The net power generated during the period was 4,494 million units, against 4,351 million units achieved in the corresponding period of the previous year. Nalco is also fast emerging as a green power producer. The company has generated 164 million units of wind power during the first 9 months of this fiscal. (IANS)

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