Nalco's September qr net profit more than doubles to Rs 5.1 billion

National Aluminium Company (Nalco) reported 117-per cent rise in its net profit to Rs 5.1 billion for the quarter-ended September 30, up from Rs 2.35 billion in the same period of last fiscal.

The company's operating profit also zoomed 229 per cent to Rs 7.35 billion as against Rs 2.23 billion achieved in the comparable period of FY18.

The state-owned company attributed the growth to its new business model, which was introduced 18 months ago and helped helped it overcome volatility in alumina and aluminium markets due to US sanctions. The revamped business model aided in doubling Nalco's net profit to Rs