Nalco Q1 net jumps 125 per cent to Rs284 crore
14 Aug 2010
Navratna public sector undertaking National Aluminium Company Ltd (nalco) has reported a 125 per cent increase in its fiscal first quarter (April-June 2010-11) net profit, at Rs284.05 crore, against Rs126.45 crore in the similar quarter of the previous financial year.
Total income of the state-run aluminium major increased to Rs1,397.81 crore during the quarter ended 30 June 2010 from Rs1,036.50 crore in the quarter ended 30 June 2009, Nalco said in a filing with the Bombay Stock Exchange (BSE).
The company reported a 43 per cent increase in its sales turnover at Rs1,388 crore, an increase of 43 per cent compared to Rs970 crore in the corresponding quarter of the previous year.
The company attributes the rise in sales and profit to enhanced production volume and sales, improved consumption norms of input materials and better sales realisation.
Bauxite production at Nalco's mines during this quarter increased to 1,067,429 tonnes against 840,328 tonnes in the corresponding quarter. Similarly, aluminium production increased to 111,663 tonnes from 104,767 tonnes and power generation to 1,659 million units from 1,600 million units.
Nalco sold 108,620 tonnes of aluminium in the first quarter against 93,104 tonnes in the corresponding period of the previous year. Domestic sale of aluminium also increased
28 per cent to 83,449 tonnes from 65,112 tonnes in the corresponding quarter.
The company achieved record production of 15.92 lakh tonnes of alumina hydrate with capacity utilisation of 101.05 per cent against the previous year level of 15.77 lakh tonnes. Power generation has also increased to 6,295 million units from 5,541 million units in 2008-09.