1. Nalco Q1 net down 22% on poor market realisation

Nalco Q1 net down 22% on poor market realisation

The National Aluminium Company (Nalco) has posted a net profit of Rs 135 crore in the first quarter ended June 30 2016, down by 22.42% compared to Rs 174 crore during the corresponding period of previous fiscal.

By: | Bhubaneshwar | Updated: September 13, 2016 7:01 AM
The profit during the quarter took a dip due to low market realisation, said a company release. The total alumina sale during the quarter was 2.91 lakh tonnes and aluminium sale was 82,386 tonnes. (Reuters) The profit during the quarter took a dip due to low market realisation, said a company release. The total alumina sale during the quarter was 2.91 lakh tonnes and aluminium sale was 82,386 tonnes. (Reuters)

The National Aluminium Company (Nalco) has posted a net profit of Rs 135 crore in the first quarter ended June 30 2016, down by 22.42% compared to Rs 174 crore during the corresponding period of previous fiscal.

The profit during the quarter took a dip due to low market realisation, said a company release. The total alumina sale during the quarter was 2.91 lakh tonnes and aluminium sale was 82,386 tonnes.

However, considering the sluggishness of international metal market, Nalco’s performance is considered to be a ‘silver lining’ amidst the downturn in both domestic and overseas markets, the release said.

Nalco, however, has achieved remarkable growth in production. During the quarter, the quantum of bauxite production was 17.04 lakh tonnes, which is about 46% higher than 11.64 lakh tonnes produced in the corresponding period of previous year. Alumina hydrate production was 5.24 lakh tonnes, i.e. 35% higher as compared to 3.88 lakh tonnes during the corresponding period of last fiscal.

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