Nalco Q3 profit up 65 percent

January 31st, 2011 - 10:32 pm ICT by IANS  

Bhubaneswar, Jan 31 (IANS) State-run National Aluminium Company Limited (NALCO) Monday said its Q3 net profit registered 65 percent rise over the corresponding period in the previous fiscal due to lower operating cost and recovery of metal prices.The company has registered in Q3 a net profit of Rs.256 crore (about $55 million) up 65 percent from Rs.155 crore achieved during the corresponding quarter of the previous fiscal, the company said here in a statement.

According to the reviewed financial results for Q3 of the financial year 2010-11, taken on record by the board of directors in a meeting held in New Delhi, the sales also jumped by 5 percent to Rs.1,523 crore, from Rs.1454 crore registered during the comparative period of the previous fiscal.

The operating cost during the quarter under review was lower by Rs.67 crore (6 percent) as compared to the Q3 of the previous year, the company said.

The signs of recovery as regards alumina and aluminium prices have also impacted Nalco’s performance, the company said.

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