NALCO posts net profit of Rs 235 crore in Q2 -Governance Now

NALCO posts net profit of Rs 235 crore in Q2

The operating profit of second quarter has gone up by 102 percent over 2017-18 Q1

GN Bureau | November 13, 2017

#PSU #NALCO #profit

Ministry of mines’ enterprise, National Aluminium Company Limited (NALCO), has achieved net profit of Rs 235 crore, registering 82 percent growth in the second quarter ended September 2017 of the current fiscal.

The operating profit of second quarter 2017-18 has raised 102 percent over first quarter of the current fiscal.

The net sales in the second quarter was Rs 2,420 crore compared to Rs 1,695 crore in the corresponding quarter of the last financial year.

“The market harvesting in alumina segment and focus on cost reduction have helped us improve our profitability. When the global metal market was in the slump cycle, NALCO maintained its resilience and faced the international downturn with courage by ramping up production,” said NALCO, CMD, Tapan Kumar Chand.

The net profit and gross sales turnover for the half year ended September 2017 and it works out to Rs 364 crore and Rs 4,179 crore, respectively.

During the period, bauxite mining was at 37.06 lakh tonnes, while alumina hydrate production was 10.35 lakh tonnes.

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