Nalco Q1 net profit down 4.4% to Rs 129 cr

Aluminium maker Nalco today said its net profit fell by 4.44 per cent to Rs 129 crore for the first quarter ended June 30, 2017.
The state-run firm had clocked a net profit of Rs 135 crore in the year-ago period, it said in a BSE filing.
Total income of the Navratna firm rose to Rs 1,997.43 crore in April-June quarter this fiscal from Rs 1,799.72 crore during the same quarter in 2016-17 fiscal.
Its total expenses were higher at Rs 1,801.48 crore during the period under review from Rs 1,590.82 crore in the year-ago period.
"Nalco has achieved remarkable growth in production in all fronts. During the quarter, bauxite production was 18.81 lakh tonnes, thereby registering 10.4 per cent growth over 17.04 lakh tonnes produced in the corresponding period of previous year," the firm said in a statement.

The total alumina sale during the quarter was 2.59 lakh tonnes, it added.
However, considering the sluggishness of international metal market, Nalco's performance is considered to be a 'silver lining' amid the downturn in both domestic and overseas market, the PSU said.
Shares of the company closed 0.72 per cent up at Rs 70.35 on the BSE.