Nalco Q3 net slumps 62% on weak prices

Quarterly PAT slips 41% from Rs 226 cr to Rs 133 cr

Weak aluminium prices at London Metal Exchange pulled down National Aluminium Company's (Nalco) net profit by 62% for the quarter ended December 31, 2015.

The profit after tax (PAT) nosedived to Rs 133 crore from Rs 354 crore in the year-ago period.

Its quarterly PAT declined from Rs 226 crore to Rs 133 crore, a fall of 41%. Its net sales turnover for October-December period at Rs 1,616 crore was down 11% as Nalco's realisation fell 17% amid depressed LME prices.

In the April-December period, Nalco's net profit stood at Rs 523 crore, a plunge of 45% compared to Rs 967 crore logged in the corresponding period of last fiscal. Topline for this period decreased from Rs 5,483 crore to Rs 4,866 crore, a dip of 11%.

Nalco, however, maintained it managed to post profits in all three quarters of this fiscal despite meltdown in prices with most of the aluminium companies reporting losses.

On the production front, Nalco achieved bauxite output of 4.57 million tonne (mn tone) as against 4.3 mn tone achieved in the corresponding period of last fiscal. 

Its alumina hydrate production at 1.43 mn tone was a tad higher than 1.42 mn tone recorded in the same period last fiscal. Metal production was up 11.5% from 0.24 mn tone to 0.27 mn tone.

Nalco which has forayed into green energy, produced 134 million units of wind power till December end.