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State-run National Aluminium Company (NALCO) today reported an over two-fold rise in its net profit at Rs 354.87 crore, helped by an exceptional gain.
The Bhubaneswar-based firm had posted a net profit of Rs 172.45 crore in the year-ago period, it said in a BSE filing.
Total income of the company, however, fell by 2 per cent to Rs 1,801.25 crore in the January-March quarter of the last fiscal from Rs 1,838.20 crore in the same quarter of the 2013-14 fiscal, it added.
The navaratna public sector undertaking said during the quarter there was an out-of-court settlement with the Odisha government regarding "disputed electricity duty, interest on unpaid electricity duty and the duty on Transmission and Transportation (T&T) loss."
The exercise resulted in "...Increase in profit before tax by Rs 148.42 crore, which has been considered as an exceptional item," it said in the filing.
For the entire 2014-15 fiscal, NALCO's net profit surged over two fold to Rs 1,321.85 crore from Rs 642.35 crore in 2013-14.
Total income rose by 9 per cent to Rs 7,382.81 crore from Rs 6,780.85 crore during the same period.
Shares of the PSU rose by 0.73 per cent to settle at Rs 48.45 per share yesterday at the BSE.
