SME Times is powered by   
Search News
Just in:   • Market rises for 3rd day straight, Nifty above 9,500  • Sri Lankan brewery resumes exports after 2 months  • Core sector output plunges by over 38% in April  • Galaxy Note 20 may feature Exynos 992 SoC  • Include Discom liability while fixing states' borrowing, Minister tells finance panel 
Last updated: 13 Nov, 2017  

Nalco.9.thmb.jpg Nalco posts Rs 235 cr profit in 2nd quarter

   Top Stories
» Core sector output plunges by over 38% in April
» GDP growth down to 3.1% in fourth quarter on manufacturing slump
» Need to reform Finance Ministry to facilitate exports, imports: Amitabh Kant
» FDI inflows rise 18% to $73 bn in FY20
» Goyal urges exporters to provide quality products, diversify
SME Times News Bureau | 13 Nov, 2017
The National Aluminium Company Limited (Nalco) has achieved a net profit of Rs 235 crore for the second quarter in the financial year 2017-18, said a statement on Saturday.

According to the reviewed financial results for the second quarter taken on record by the Board in the meeting held here on Saturday, Nalco has achieved net profit of Rs 235 crore as against Rs 129 crore in the preceding quarter registering 82 percent growth and Rs 121 crore in the corresponding quarter of previous fiscal (94 percent growth).

The operating profit of the second quarter has raised 102 percent over the first quarter of financial year 2017-18, the statement said.

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

With the shift of the market now towards the upbeat cycle, the decision to remain brave and continue the operations with high productivity and investments has paid off well for the company. The recent financial performance of the Navratna PSU is a testimony to this, Chand added.

The net profit and gross sales turnover for the half year ended September 2017 works out to Rs 364 crore and Rs 4,179 crore respectively, as against the corresponding figures of Rs 256 crore and Rs 3,224 crore achieved during the first six months of the previous financial year.

On the production front, Nalco has put up an impressive performance in the first half of 2017-18 fiscal. During the period, bauxite mining was at 37.06 lakh tones while alumina hydrate production was 10.35 lakh tones.

During the period, the company produced 2.06 lakh tonnes of aluminium, which is 10.25 percent higher than the production of the corresponding period of fiscal year 2016-17.

Nalco's net power generation has also gone up by 11.73 percent at 3,290 million units as compared to the corresponding period of the previous fiscal. The company also generated 262.90 million units of wind power registering an increase of 28.5 percent as compared to the corresponding figure of the previous fiscal.

Nalco's alumina hydrate sales, during the first half, was up 9.98 percent at 6.39 lakh tonnes as compared to the first six months of 2016-17. During the period, the company sold 2.02 lakh tonnes of aluminium, which is up 14.19 percent compared to the corresponding period of the previous fiscal.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 30 May, 2020
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» China's forex reserves reach USD 2.85 trillion(1)
» FM reviews macro-economy in FSDC meet(1)
» Appoint distributors, expand your business(1)
» MSME stimulus(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter