NALCO’s Q3 net profit down 80 percent
February 7th, 2012 - 12:50 am ICT by IANSBhubaneswar, Feb 6 (IANS) The state-run National Aluminium Company Limited (NALCO) has registered a net profit of Rs.51.22 crore for 3rd quarter of 2011-12 fiscal, down 80 per cent against Rs.255.95 crore during the corresponding quarter of the previous fiscal, the company said Monday.
According to the reviewed financial results for the quarter taken on record by the Board of Directors in a meeting held in Bhubaneswar, the sales turnover of the aluminium maker however has increased marginally to Rs.1,527.86 crore, against Rs.1,523.31 crore registered during the comparative quarter of the previous fiscal.
The net profit and sales for the nine months ended Dec 2011 work out to Rs.567.40 crore and Rs.5,068.24 crore respectively, against the corresponding figures of Rs.764.04 crore and Rs.4,460.22 crore of the previous fiscal, the company said in a statement.
B.L. Bagra, chairman and managing director (CMD) of NALCO said the dip in net profit is primarily because of lower prices of products linked to London Metal exchange (LME), increase in prices of input raw materials and fuel, and also due to one-time arrear payment following the long-term wage settlement with unions.
On the production front, during the first nine months, the company produced 3.09 lakh tonnes of metal, as against 3.33 lakh tonnes achieved during the comparable period of the previous fiscal, due to about 120 pots having been taken off the stream at its smelter in Angul.
- NALCO's Q1 net profit up 32 percent - Aug 13, 2011
- Nalco issues bonus shares opting stock spilt - Feb 02, 2011
- National Aluminium on a major diversification drive: Chairman - Jul 28, 2011
- NALCO profit up at Rs.224 crore in Q2 - Oct 30, 2010
- Nalco Q3 profit up 65 percent - Jan 31, 2011
- Nalco's Q2 profit down by 38 percent - Nov 12, 2011
- NALCO to sponsor tribal kids' education - Sep 07, 2011
- NALCO Q4 profit up 371 percent at Rs.391 crore - May 15, 2010
- Nalco to set up subsidiaries - Jul 08, 2011
- NALCO hikes aluminium prices by Rs.3,000 per tonne - Apr 25, 2011
- Nalco's Q1 profit up by 125 percent - Aug 14, 2010
- NALCO pays Rs.187 crore advance income tax - Dec 17, 2010
- NALCO cuts domestic aluminium price - Mar 17, 2011
- NALCO sees aluminium at $2,500-$2,700 per tonne range - Jun 10, 2011
- NALCO bags top export Capexil award - Oct 03, 2011
Tags: aluminium, bagra, company limited, comparable period, crore, first nine months, lakh tonnes, lme, london metal exchange, managing director, nalco, national aluminium company, net profit, pots, q3, raw materials, rs 1, sales turnover, smelter, wage settlement