India: NALCO's Operating Profit Increases 80% in Q3 FY19

National Aluminium Company (Nalco), a leading producer cum exporter of alumina and aluminium, has reported 80 per cent surge in its operating profit during the December quarter of this fiscal.

NALCO said, the jump in operating profit to INR 589 crore beat its own expectations. Net profit of the company for the third quarter is INR 302 crore and the net profit for the period from April 2018 to December 2018 has grown to INR 1499 crore as against INR 1085 crore of last year same period i.e. 38 per cent growth.

The net sales for the first nine months of the fiscal are INR 8,644 crore i.e. 32 per cent growth over the same period of last year. NALCO has also achieved record growth in production in all fronts. During the first nine months of the current fiscal, Nalco achieved production of 55.39 lakh tonnes of bauxite, as compared to 54.40 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 15.92 lakh tonnes of alumina hydrate, against 15.51 lakh tonnes achieved in the corresponding period of the previous financial year.

Metal production was 3.29 lakh tonnes, against 3.17 lakh tonnes during the comparable nine months of the previous fiscal. The net power generated during the period was 4,580 million units. As a committed and responsible green power producer the company has generated 310 million units of wind power during the first 9 months of this fiscal.