Nalco’s Q3 net jumps 170% to Rs 354 crore

Bhubaneswar: Navratna public sector undertaking National Aluminium Company (Nalco) has recorded 170 percent increase in its net profit for October-December quarter of the current fiscal at Rs 354 crore as compared to Rs 131 crore in the corresponding period of the previous year.

In a media release issued here today, the aluminum major has stated that higher operational income is the reason behind the rise in Q3 net. The quarterly performance report was announced at a Board meeting of the Central PSU held at its headquarters here yesterday.

Meanwhile, net profit for the 9 months ended December 2014 work out to Rs 967 crore against the corresponding figure of Rs 470 crore for the previous fiscal, ie up by 106%. And, net sales for the quarter in question stands at Rs 5,483 crore as compared to Rs 4,868 crore a year ago.

On the production front, Nalco produced 14.24 lakh tonne (LT) of alumina hydrate during the first 9 months of this fiscal against 14.26 LT, 2.44 LT of metal against 2.38 LT and 3,858 MU of power generation against 3,760 MU achieved during the comparable period of previous fiscal, the release added.