| The Madras Aluminium Company Limited ("MALCO") today announced its results for the third quarter ("Q3") and the nine months period ended 31 March 2007 ("nine month period"). Revenues for Q3 increased 13% to Rs 139 crore and net profit increased 62% to Rs 42 crore, as compared with the corresponding prior periods. For the nine month period, revenue and net profit were Rs 403 crore and Rs 135 crore respectively. |
| MALCO announced that it has now changed its financial year end from 30 June to 31 March. Accordingly the results for the nine months ended 31 March 2007 also represents its final results for the fiscal period ended 31 March 2007. |
| The board also approved a brownfield expansion project at a cost of Rs 175 crore to increase the alumina capacity from 80,000 tpa to 120,000 tpa and aluminium capacity from 40,000 tpa to 50,000 tpa. The captive power generation capacity will also be increased from 75MW to 100 MW. These projects will be commissioned progressively by the end of 2008. The project will be funded entirely through internal accruals. |
| MALCO was awarded the prestigious TERI award for 'Excellence in Environment Management' by the Honourable President of India, Dr APJ Abdul Kalam. |
| About Madras Aluminium Company Limited: MALCO is subsidiary of Vedanta Resources Plc, a London listed metals and mining major with interests in aluminium, copper, silver, zinc and lead. MALCO is the only integrated aluminium producer in South India. MALCO is listed on the Bombay Stock Exchange and the National Stock Exchange of India. |
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