Nalco Registers Rs 135 Cr Profit In First Quarter Of 2016-17

Bhubaneswar: National Aluminium Company Limited (Nalco) has registered Rs 135 crore profit in the first quarter of 2016-17 fiscal year, according to the results announced on Monday.

Nalco has registered a net profit of Rs.135 crore, compared to Rs.174 crore during the corresponding period of previous fiscal.

The Board of Directors reviewed the financial results for the first three months of the fiscal year 2016-17 at a meeting held in Bhubaneswar on Monday.

Nalco has achieved remarkable growth in production on all fronts.

During the quarter, the quantum of bauxite production was 17.04 lakh tons, which is about 46% higher than 11.64 lakh tons produced in the corresponding period of previous year, said a release.

Alumina hydrate production was 5.24 lakh tons, which is 35% higher as compared to 3.88 lakh tons during the corresponding period of last fiscal.

During the quarter, the company produced 94,496 tons of aluminium, which is about 10% higher than 85,722 tons produced in the 1st quarter of the previous financial year. The net power generated during the quarter was 1489 million units. This has gone up by around 10%, against 1358 million units generated in the corresponding period of last year.

Besides, in the field of renewable energy, the company has generated 52 million units of wind power during these three months.

However, despite a quantum jump in production, the profit during the quarter took a dip due to low market realization.

The total alumina sale during the quarter was 2.91 lakh tons, and the aluminium sale was 82,386 tons. However, considering the sluggishness of international metal market, Nalco’s performance is considered to be a ‘Silver Lining’ amidst the downturn in both domestic and overseas markets.