Nalco Q3 net dips marginally to Rs 144 cr

However, company posts 30% dip in profit to Rs 400 cr for 9 months ended December 2016

National Aluminium Company (Nalco) recorded a marginal decline in its net profit for the quarter ended December 31, 2016 at Rs 144 crore as against Rs 148 crore achieved in the corresponding quarter of FY16.

For the April-December period, Nalco's net profit plummeted 30 per cent to Rs 400 crore from Rs 573 crore in the year-ago period. The aluminium company's total revenue grew from Rs 4866 crore to Rs 5071 crore, an increase of four per cent.

A Nalco release stated the company was able to register profits in all three quarters of this fiscal at a time when the global aluminium industry was battered by a meltdown and most companies posted losses.

On the production parameters, Nalco continued its growth trajectory. By the end of December last year, Nalco had produced 5.32 million tonne (mt) of bauxite, 16 per cent higher than 4.57 mt clocked in the same period of last fiscal. Alumina hydrate production moved up from 1.43 mt to 1.52 mt. Metal output at 0.28 mt was a tad higher than 0.27 mt in the year-ago period.