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Nalco Q4 net profit up 25 pc




 Weathering sluggishness in the metal market across the globe, fluctuating prices in the LME and increase in input costs of raw materials, Navratna PSU National Aluminium Company Limited (Nalco) has reported profit after tax of Rs 268 crore for the fourth quarter (Q4) ending March 31, 2017 registering an increase of 25.23 per cent over Rs 214 crore achieved in the corresponding period of the previous fiscal.

The figure also represents an 86 percent jump over the net profit of Rs.144 crore reported in the preceding quarter.

According to a press release issued here today, the aluminium major closed the financial year 2016-17 with a net profit of Rs 669 crore, compared to Rs 787 crore achieved during the previous fiscal. The gross turnover of the company during FY 2016-17 was Rs 7,933 crore.

      The Navratna PSU reported significant growth in the last fiscal in the areas of production and sales. The company achieved 7.65 percent growth in bauxite production by recording cent percent capacity utilization of 6.825 million tonnes in FY 2016-17, the highest since inception. The company recorded stellar performance in its refinery segment with a record production of 2.1 million tonne Alumina Hydrate, which represented a jump of 7.53 percent. At its smelter plant in Angul, the company registered a 4.03 percent increase in production of metal at 3.87 lakh tonnes. Its captive power plant also witnessed an increase in power generation at 6066 MU, representing an increase of 3.85 percent YoY (Year-on-Year).

On the sales front too Nalco had reasons to cheer with 6.15 percent growth in chemical sales, 6.32 percent increase in metal export and 2.52 percent increase in the domestic sale of metal.

Nalco has been consistent in its growth of production parameters for the last two years; and this has been main propeller for continuous profitability despite market sluggishness.






Editorial

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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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