Nalco net profit up 40% at Rs 224 crore

National Aluminium Company (NALCO), India’s leading manufacturer and exporter of alumina and aluminium and a Navratna PSU of Ministry of Mines, has posted 40 per cent increase in net profit for the 2nd quarter ended September 2010.

Nalco achieved higher net profit of Rs 224.04 crore as against Rs 159.50 crore in similar quarter of previous fiscal. Similarly, the sales turnover surged by about 30 per cent to Rs 1548.75 crore over the comparative quarter of last year.

The net profit and sales turnover for the half year ended September 2010 were also higher at Rs 508.09 crore and Rs 2936.91 crore, respectively, as against the corresponding figures of Rs 285.94 crore and Rs 2169.70 crore during the first six months of the previous fiscal.

During the first half, Nalco achieved a record production of 221,963 MT of metal compared to 207,794 MT in corresponding period of previous fiscal, registering a growth of 6.8 per cent.

Similarly the company also recorded a higher metal sale of 217,136 MT during first half of current fiscal, registering an increase of 9.2 per cent against 198,803 MT sale of metal in corresponding period last year.