NEW DELHI: State-owned Nalco on Saturday posted about 41 per cent rise in net profit at Rs 224 crore for the quarter ended September 30, over the same period last year, mainly on the back of improved prices of its products.
"Improved prices of alumina and aluminium led to rise in profits in the second quarter," Nalco Director Finance B L Bagra told PTI.
The leading aluminium producer had a net profit of Rs 159 crore in the second quarter of the last fiscal.
"The other reason which led to rise in profit was 30 per cent increase in alumina exports to 2.10 lakh tonnes in the reporting quarter over the year-ago period," he added.
The total income of the company increased to Rs 1,479 crore in the second quarter from Rs 1,179 in the same quarter previous year.
"The average selling price of alumina in Q2 stood at USD 313 a tonne, as against USD 207 a tonne in the same quarter a year-ago. Average sales realisation of aluminium rose by about 15 per cent to 2,150 a tonne in the reporting quarter as against the year-ago period," he added.
On the outlook of demand and prices of its products, Bagra anticipated a range-bound trend in the current quarter.
"In Q3, alumina prices are expected to hover in the range of USD 340-350 a tonne. Aluminium prices would be in the range of USD 2,200-2,300 a tonne," he added.
The company shrugged off the rise in input cost pressure, on account of imported coal and power it purchased from grids, he added. "Coal India's supply is not regular to us," he said.
The company reported 78 per cent rise in the net profit at Rs 508 crore for the six months ended September 30.
The aluminium major had a net profit of Rs 285 crore in the same period last fiscal.
The total income of the firm increased to Rs 2,787 crore for the six months ended September 30, from Rs 2,114 crore in the same period in 2009-10.
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