Nalco net dips 28% to Rs 446.6 cr

CORPORATE SCORECARD

National Aluminium Co (Nalco), the flagship PSU of the ministry of mines, and India's largest manufacturer and exporter of alumina and aluminium, has recorded a 28.13 per cent decline in net profit in the June quarter.

The slide in profit, sources said, was mainly on account of price pressure on the London Metal Exchange (LME), which guides the company's metal prices in the domestic and overseas markets.

According to the unaudited financial results for the April-June quarter, taken on record in the board of directors meeting held in New Delhi today, the company has achieved a net profit of Rs 446.66 crore on a sales turnover of Rs 1,287.12 crore. However, during the first quarter of the previous financial year, the figures were Rs 622.30 crore and Rs 1,620.82 crore, respectively.

On the production front, the company achieved higher alumina production of 3,87,800 tonnes (3,58,100 tonnes). But metal production was 88,550 tonnes (88,584 tonnes).