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NALCO’s 3rd Quarter Net Profit Rs. 133 crore

calender11/02/2016

Bhubaneswar, 11/02/2016: National Aluminium Company Limited (NALCO), the Navratna PSU, under Ministry of Mines, Govt. of India and country’s leading manufacturer and exporter of alumina and aluminium, has declared its financial results for the 3rd quarter ended December 2015

According to the reviewed financial results for the 3rd quarter of the financial year 2015-16 taken on record by the Board in the meeting held at Bhubaneswar today, NALCO has achieved net profit of Rs.133 crore, as against Rs.226 crore in the preceding quarter and Rs. 354 crore in the corresponding quarter of previous fiscal. The net sales turnover in the 3rd Quarter was Rs.1616 crore. Even though the average LME up to Q3 in 2015-16 has come down by 300 US dollars per tonne of metal approximately, i.e. about 17% lower realization, the dip in turnover has been limited at the level of 11% due to company’s focus on production and productivity. Given the slump, 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.

The net profit for the 9 months ended December 2015 work out to Rs.523 crore, against the corresponding figure of Rs. 967 crore for the previous fiscal. The net sales for the 9 months of the fiscal is Rs.4866 crore as compared to Rs. 5483 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, NALCO achieved production of 45.74 lakh tonnes of bauxite, as compared to 43.04 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 14.37 lakh tonnes of alumina hydrate, against 14.24 akh tonnes achieved in the corresponding period of the previous financial year. Metal production was 2.76 lakh tonnes, against 2.44 lakh tonnes registered during the comparable nine months of the previous fiscal. The net power generated during the period was 4351 million units, 3858 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 134 million units of wind power during the first 9 months of this fiscal.