Nalco Q3 net profit up 10 pc at Rs 131 cr

Bhubaneswar: National Aluminium Company Ltd (Nalco) on Wednesday reported a jump of 10 per cent in net profit at Rs 131 crore for the third quarter ended December 31.

The city-based Navratna PSU had posted a net profit of Rs 118.94 crore during the corresponding quarter of the previous fiscal.

Net sales of Nalco was down 2.94 per cent to Rs 1,620.96 crore, down 2.94 per cent in the last quarter vis-a-vis Rs 1,670.06 crore of the Q3, FY’13, it said in a filing to the BSE.

Total expenditure of the company stood at Rs 1,570.31, amounting to 96.88 per cent of the net sales. Its other income, which is primarily interests earned on deposits, rose by 7.18 per cent to Rs 120.77 crore in the last quarter.

According to the reviewed financial results for third quarter of the financial year 2013-14, during the first nine months of this fiscal, Nalco produced 14.26 lakh tonnes of alumina hydrate, up 12.2 per cent against 12.70 lakh tonnes achieved during the comparable period of the previous fiscal.

However, metal production was down at 2.38 lakh tonnes from 3.05 lakh tonnes in the comparable nine months of the previous fiscal.

Power generation was 3,760 MU against 4,582 MU achieved in the corresponding period of the previous year. In the third quarter of 2013-14, alumina hydrate production was 4.66 lakh tonnes, 17.4 per cent up as compared to 3.97 lakh tonnes achieved in the corresponding quarter of the previous fiscal.

Metal production in the third quarter of this fiscal has gone down to 0.79 lakh tonnes, against 1.00 lakh tonnes achieved in the same quarter of the previous year.

Power generation was at 1,249 MU in this quarter, as compared to 1,525 MU of the corresponding quarter of the previous fiscal.

Shares of the company closed today at Rs 36.50 a piece on the BSE, up 2.96 per cent from the previous close. Its results were announced post market hours today.