NALCO registers robust growth upto 3rd Quarter, net profit surge to Rs 1085 cr
Published: Feb 10, 2018
By TIOLCORPLAWS News Service
BHUBANESWAR, FEB 10, 2018: NALCO, the Navratna PSU, under Ministry of Mines, and country's leading manufacturer and exporter of alumina and aluminium, has declared its financial results for & upto 3rd quarter ended December 2017.
According to the reviewed financial results for the 3rd quarter of the FY 2017-18 taken on record by the Board in the meeting held at Bhubaneswar today, NALCO has achieved a record net profit of Rs 722 cr (growth of 207%), as against Rs 235cr in the preceding quarter and Rs 144 cr in the corresponding quarter of previous fiscal. The net sales in the 3rd Quarter was Rs 2360 cr. With this, the company has been able to break the highest-ever netprofit figures in a quarter during the last ten years.
Similarly, the net profit for the 9 months ended December 2017 works out to Rs 1085 cr (growth of 171%), against the corresponding figure of Rs 400 cr for the previous fiscal. The net sales for the 9 months of the fiscal are Rs 6538cr as compared to Rs 5071 cr in the corresponding period of the last FY. NALCO has also achieved record growth in production in all fronts. During the first nine months of the current fiscal, NALCO achieved production of 54.40 lakh tonnes of bauxite, as compared to 53.23 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 15.51 lakh tonnes of alumina hydrate, against 15.27lakh tonnes achieved in the corresponding period of the previous FY.
Metal production was3.17 lakh tonnes, against 2.86 lakh tonnes during the comparable nine months of the previous fiscal registering a growth of 11 %. The net power generated during the period was 4897 million units up by 9%, compared to 4494 million units achieved in the corresponding period of the PY. As a committed and responsible green power producer the company has generated 211 million units of wind power during the first 9 months of this fiscal.