Nalco's net profit plunged in Q4 and 07/08 fiscal year

India’s aluminum producer Nalco announced its net profit at Rs 409.06 crore in the fourth quarter ended March 31, 2008, down nearly 31% from the year-earlier period of Rs 591.48 crore. Sales of the company plunged to Rs 1,533.87 crore against Rs 1,722.97 crore in the corresponding period last year. For the full year, Nalco's net profit declined by 32% to Rs 1,624.89 crore in the 2007-08 fiscal year from Rs 2,381.38 crore in the previous year. Sales also fell to Rs 5,474.08 crore from Rs 6,514.51 crore a year ago. Nalco lost over 600 crore due to rupee appreciation, though alumina refinery and smelters run at full-capacity rate. However, alumina production of the company rose to 15,75,500 tons versus 14,75,200 tons in the fiscal year. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.