Nalco¡¯s Q3 net profit dips at INR144 cr; 9-months¡¯ aluminium production rises 3.6% YoY

India's navaratna public sector undertaking National Aluminium Company Limited (Nalco) today announced its financial results for the third quarter ended 31st December 2016. The company's standalone net profit declined 2.67 per cent to stand at INR143.92 crore (up from INR121 crore in the preceding quarter). Nalco had clocked a net profit of INR147.88 crore in the corresponding period previous year.

The total standalone income of the Indian aluminium major, however, logged higher by 14 per cent to total at INR1,988.13 crore in Q4 2016 against INR1,743.09 crore of the same period in 2015-2016 fiscal. The net sales turnover in the 3rd Quarter was INR1848 crore. In third quarter, Nalco has registered EBITDA (before exceptional item) INR361 crore as against INR282 crore in the same period previous fiscal.

Nalco also posted a rise in expenses during the period under review with the figure reaching INR1,820.57 crore from INR1,708.82 crore in the corresponding period last fiscal year.

It is to be noted that the aluminium behemoth has registered profits in all the three quarters of the current fiscal, especially at a time when the rest of the global aluminium industry has been reeling under severe market slowdown.

For the first nine months ended December 2016, the net profit of Nalco totalled INR400 crore, against the corresponding figure of INR573 crore for the previous fiscal. The net sales for the same period was estimated at INR5071 crore as compared to INR4866 crore in the corresponding period of 2015-16.

Production-wise Nalco posted a remarkable growth in the periods under review. During the nine-months period ended December 2016, the company achieved production of 53.23 lakh tonnes of bauxite, up 16 per cent from the comparable period of the last financial year; 15.27 lakh tonnes of alumina hydrate; and 2.86 lakh tonnes of primary aluminium, up from 2.76 lakh tonnes registered during the same nine months of the previous fiscal.

Nalco's net power generation during the period reached 4494 million units, up from 4351 million units in the corresponding period of the previous year. The cintegrated aluminium producer is fast emerging as a green power producer. It has generated 164 million units of wind power during the first 9 months of the current fiscal.

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