Nalco Q1 net declines 40% to INR 163.44 cr

State-run National Aluminium Company (Nalco) reported a 40 percent decline in its net profit at INR 163.44 crore for the quarter ended June 30, 2015.

The company had posted a net profit of INR 270.99 crore in the year-ago period. Total income of the aluminium producer fell by 16 percent to INR 1,491.27 crore in April-June quarter of this fiscal against INR 1,680.04 crore in the same quarter of 2014-15. Total expenses of the company fell to INR 1,366.55 crore from INR 1,499.06 crore in the reported quarter.

Nalco's Net sales from aluminium fell to 1,042.26 crore in the June quarter of 2015-16 from INR 1,042.62 crore in the same quarter in 2014-15. The aluminium unit reported a loss of INR 13.89 crore before taxes and interest against a profit of INR 31.09 crore.

The company has minimised usage of expensive imported coal and has restricting aluminium production to the extent of domestic coal availability. Key issues to watch out for would be availability of coal for captive power plant and price trend on London Metal Exchange and utilisation of smelter.

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