Aluminium giant Nalco today reported a 96.5% drop in its net profit at Rs 4.78 crore for the quarter ended September 30, due to increase in power and fuel cost and lower sales.
The company had reported a net profit of Rs 139.34 crore for the corresponding period last fiscal.
Total income for the company, however, rose 12% to Rs 1,808.32 crore for the Q2 of FY 13 as compared to Rs 1,613.67 crore during the same period last year, the company said in a BSE filing.
The cost of power and fuel had gone up increased by about Rs 108 crore, while lower sales of volumes of aluminium arising out of lower production cost the company Rs 101 crore.
"Profit during the quarter as compared to corresponding quarter of the previous year is substantially lower due to increase in price of input material, including coal and fuel, by about Rs 124 crore," it said.
