In an impressive show, public sector aluminium behemoth Nalco has achieved a net profit of Rs 284 crore in the first quarter of current fiscal.
It recorded a jump 125 per cent over its performance in the corresponding period in previous year.
"In the first quarter ended June 30, Nalco recorded a 125 per cent jump in net profit to Rs 284 crore, from Rs 127 crore achieved in the corresponding period previous year," company sources said here today.
According to the results taken on record at a meeting of the Board of Directors in New Delhi today, the company has reported a sales turnover of Rs 1,388 crore, an increase of 43 per cent, compared to Rs 970 crore achieved in the corresponding quarter of the previous year.
Rise in sales and profit are attributed to enhanced production volume and sales, improved consumption norms of input materials and better sales realisation by the Navaratna PSU, the sources said.
On production front too, Nalco has put up an impressive performance. Bauxite production during this quarter increased to 1,067,429 tonnes, against 840,328 tonnes in the corresponding quarter.
Similarly, aluminium production was increased to 1,11,663 tonnes from 1,04,767 tonnes and power generation to 1659 million units (MU) from 1600 MU.
On the sales front also, Nalco sold 108,620 MT of aluminium in the 1st quarter, which was 93,104 MT in the corresponding period of previous year. Domestic sale of aluminium also increased by 28 per cent to 83,449 tonnes from 65,112 tonnes in the corresponding quarter.
