Nalco net profit jumps 133% to Rs 119 cr in Q3

Overcoming the problems in captive power generation and temporary shutdown of its bauxite mine due to delay in forest and environment clearances, the public sector National Aluminium Company (Nalco) has posted 133 percent increase in net profit in the quarter ended December 31, 2012.

The aluminium major has registered net profit of Rs 119 crore, up from Rs 51 crore achieved in the third quarter of the previous fiscal. The net sales also rose to Rs 1,670 crore, against Rs 1,430 crore in the year ago period.

The net profit and net sales for the nine months ended December, 2012 worked out to Rs 347 crore and Rs 4,974 crore respectively, against the corresponding figures of Rs 567 crore and Rs 4,747 crore of the previous fiscal.

On sequential basis, the Navaratna company's net profit jumped from Rs 5 crore in July-September period to Rs 119 crore in the third quarter.

On the production front, during the first nine months, Nalco produced 1. 27 million tonne of alumina hydrate against 1. 17 million tonnes in the comparable period of the previous fiscal. However, metal production was slightly less at 305,000 tonnes against 309,000 tonnes achieved in the first previous comparable period.