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Nalco Q3 net down 2.67 pc to Rs 144 cr

 State-run National Aluminium Company Ltd (Nalco) today recorded a 2.67 percent dip in its standalone net profit at Rs 143.92 crore for the third quarter ended December 31, 2016.

The Navratna PSU had clocked a net profit of Rs 147.88 crore in the corresponding quarter of the previous fiscal, it said in a release.

However, the total standalone income of the aluminium major rose 14 percent to Rs 1,988.13 crore in October-December quarter this fiscal from Rs 1,743.09 crore during the same quarter in 2015-16 fiscal.

Its total expenses were higher at Rs 1,820.57 crore during the period under review, from Rs 1,708.82 crore during the corresponding period a year-ago.

Nalco registered EBITDA (before exceptional item) Rs 361 crore as against Rs 282 crore in the corresponding period of the previous fiscal.  It registered profits, in all the three quarters of the present fiscal despite entire global aluminium industry reeling under severe market slowdown and many companies reporting loss.

The net profit for the nine months ended December 2016 work out to Rs 400 crore, against the corresponding figure of Rs 573 crore for the previous fiscal. The net sales for the nine months of this fiscal stood at Rs 5,071 crore as compared to Rs 4,866 crore in the corresponding period of FY 2015-16.

Nalco achieved growth in production in all fronts. During the first nine months of the current fiscal, the Navratna PSU achieved production of 53.23 lakh tonnes of bauxite, as compared to 45.74 lakh tonnes in comparable period of the previous fiscal registering robust a16 percent growth. The company produced 15.27 lakh tonnes of alumina hydrate, against 14.37 lakh tonnes in the corresponding period of the previous financial year. Metal production was 2.86 lakh tonnes, against 2.76 lakh tonnes registered during the comparable nine months of the previous fiscal.

The net power generated during the period was 4494 million Units, against 4,351 million Units achieved in the corresponding period of the previous year. Nalco is also fast emerging as a green power producer. The company has generated 164 million Units of wind power during the first nine months of this fiscal.


Précis 2017
From asking his party men to ‘live a simple life and serve the people’ to taunting the BJP for its ‘crocodile tears’, Chief Minister and BJD supremo Naveen Patnaik has not only become politically invincible, he seems to be so in the coming years too.


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