National Aluminum Company (Nalco) is trading lower by 4% at Rs 47.65 after reporting a sharp 96% year-on-year fall in net profit at Rs 5 crore for the second quarter ended September 30, 2012 due to supply disruption and poor quality of coal during the rainy season.
The net sales however, marginally up at Rs 1,586 crore as against Rs 1,584 crore in the comparable quarter of the previous fiscal.
“The profit during the quarter as compared to preceding quarter is substantially lower due to increase in power and fuel cost by about Rs 108 crore and lower sales volume of alumina by Rs 101 crore arising out of lower production,” the state-owned company said in a filing.
The stock opened at Rs 48 and hit a 52-week low of Rs 45.40 on the BSE. A combined 352,084 shares have changed hands on the counter so far on both the exchanges.
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