Navratna PSU ad aluminium major, National Aluminium Company Ltd (Nalco) reported impressive 32 % hike in the net profit to Rs 377 crore in the first quarter of 2011-12 ended June 30 compared to Rs 284 crore achieved in the corresponding period of the previous year.
The company also reported a sales turnover of Rs 1,851 crore, an increase of 33% against Rs 1,388 crore in the corresponding quarter of the previous year.
Nalco chairman and managing director, BL Bagra attributed the impressive results "to enhanced volumes and better sales realisation." "Particularly, considerably higher volume of 1.83 lakh tons of alumina exported during the quarter, as compared to 0.99 lakh tons in the 1st quarter of previous year was the main contributor towards rise in sales and profit," Mr Bagra added.
According to the results taken on record at a meeting of the Board of Directors in New Delhi on Friday the company has reported a sales turnover of Rs.1851 crore, an increase of 33% compared to Rs.1388 crore achieved in the corresponding quarter of the previous year.
On production front too, Nalco has put up an impressive performance. While bauxite production during this quarter increased to 11.21 lakh tons against 10.67 lakh tons in the corresponding quarter of last year, alumina production has gone up to 4 lakh tons against 3.88 lakh tons during the comparable quarter. Similarly, during the quarter, power generation increased to 1679 million units from 1659 million units.
However, aluminium production is slightly less at 1.11 lakh tons as against 1.12 lakh tons achieved in the 1st quarter of previous fiscal. As regards metal sales, NALCO sold almost same volume of 1.10 lakh tons of aluminium in the 1st quarter as in the corresponding period of previous year.
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