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Thursday, February 22, 2024

Nalco profit up 61 percent sequentially in Q3

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Bhubneswar: National Aluminium Company Limited (NALCO), the Navratna CPSE under Ministry of Mines, has achieved net profit of Rs 274 crore in the third quarter ending December 2022 as against Rs 170 crore in the preceding quarter of this fiscal.

As per the reviewed financial results for the quarter of FY 23, the net sales turnover in the third quarter was Rs 3290 crore.

Lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility has affected the profit margins, despite the fact that the company has registered robust growth in production in all fronts.

Operational efficiency and team work of NALCO had played a key role in overcoming the slump period.

Firming up of aluminum prices globally and higher productions volumes, will certainly add to the profit margins in the coming quarters and Q4 of the fiscal will contribute significantly for the overall FY 23 results, NALCO CMD Sridhar Patra said.

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