NALCO’s Q1 net profit up 32 percent

August 13th, 2011 - 12:41 pm ICT by IANS  

Bhubaneswar, Aug 13 (IANS) State-owned National Aluminium Company Limited (NALCO) Saturday reported a 32 percent rise in its net profit for the first quarter of the current fiscal due to better production and sales of alumina.

The net profit has jumped to Rs.377 crore from Rs.284 crore achieved in the corresponding period of the previous year, the company said in a statement.

According to the results taken on record at a meeting of the board of director in New Delhi Friday, the company reported a sales turnover of Rs.1,851 crore, an increase of 33 percent compared to Rs.1,388 crore achieved in the corresponding quarter of the previous year.

The firm’s chairman and managing director B.L. Bagra said higher volume of 1.83 lakh tonnes of alumina exported during the quarter, as compared to 0.99 lakh tonnes in the first quarter of previous year, was the main contributor towards rise in sales and profit.

On the production front too, the Bhubaneswar-headquartered company, which is India’s third largest producer of aluminium, has put up an impressive performance.

Bauxite production during this quarter increased to 11.21 lakh tonnes against 10.67 lakh tonnes in the corresponding quarter of last year.

Similarly, alumina production has gone up to 4 lakh tonnes against 3.88 lakh tonnes during the comparable quarter.

During the same quarter, power generation increased to 1,679 million units from 1,659 million units. However, aluminium production fell slightly at 1.11 lakh tonnes as against 1.12 lakh tonnes achieved in the first quarter of the previous fiscal, the company said.

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