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National Aluminium Company Ltd (Nalco) today reported 29.9% drop in net profit at Rs 172.45 crore for the quarter ended March 31 on the back of lower income and higher expenses.
The company had clocked a net profit of Rs 246.03 crore in th corresponding quarter of the year-ago period, the company said in a filing to BSE.
The total income from operations of Nalco came down to Rs 1,838.20 crore, over Rs 1,867.27 crore in the same quarter of a year-ago period, it said.
The total expenses of the PSU increased to 1,669.91 crore, over Rs 1,581.69 crore in the corresponding quarter of FY13, it added.
The net profit for the year ended March 31 increased to Rs 642.35 crore, registering an increase of 8.3%. The company's net profit in the FY13 was 592.83 crore.
The total income from operations for the year ended March 31, however, came down to Rs 6,780.85 crore, over Rs 6,916.48 crore in FY 2012-13, Nalco added.
The shares of the company closed at Rs 51.65 a piece on BSE, down 0.67% from the previous close.
