Nalco H1 turnover rises 42pc to Rs 5,952 crore

Aluminium major National Aluminium Company Ltd (NALCO) has posted a turnover of Rs 5,952 crore in the first half of fiscal 2018-19, registering a 42 per cent growth.

The state-owned company's net profit rose 229 per cent to Rs 1,197 crore in the period under review, Nalco said in a release on Monday.

Operating profit increased over four-fold to Rs 1,624 crore in the first half of 2018-19 compared with Rs 334 crore in H1 of last year.

EBITDA margin of the company during the period doubled from 17 per cent to 34 per cent, the release said.

According to the reviewed financial results for the September quarter and first half of financial year 2018-19, Nalco achieved a net profit of Rs 510 crore as against Rs 235 crore in the corresponding quarter a year ago.

The operating profit of the quarter ended September rose by 229 per cent to Rs 735 crore as against Rs 223 crore a year ago.

Despite high volatility in alumina and aluminium markets due to US trade sanctions, Nalco has been able to "significantly improve its performance due to the New Business Model introduced by the company one and a half years back," the release said.

Under the model, the focus has been on reducing the specific consumption, cost reduction, production augmentation and strategic marketing in spot markets, the release added.