Nalco net profit dips

Written by State Bureau | Bhubaneswar, Apr 29 | Updated: Apr 30 2008, 06:57am hrs
The Central-sector Nalco's net profit for the year 2007-08 slipped by 32% to Rs 1624.89 crore compared with Rs 2381.38 crore during the previous financial year.

The profit was less owing to appreciation of rupee against dollar as well as fall in prices of alumina and aluminium in the international market, a company spokesperson said.

According to the unaudited financial result, which was taken up by the board in New Delhi on Tuesday, the company achieved a turnover of Rs 5474.84 crore during the fiscal as against Rs 6514.51 crore in 2006-07.

During the January-April 2008 quarter, the company posted a net profit of Rs 409.06 crore on a turnover of Rs 1533.87 crore as against Rs 591.48 crore on a turnover of Rs 1722.97 crore during the same period of the previous fiscal. The company achieved more than 100% capacity utilisation during 2007-08.