Nalco 2nd Quarter Net Profit up 40% at Rs 224 crore

BHUBANESWAR: National Aluminium Company Limited (NALCO) has recorded an impressive increase in profit to Rs 224 crore during second quarter of the current fiscal, showing a 40 per cent surge compared to the corresponding period in the previous year.

According to the reviewed financial results for the second quarter of 2010-11, Nalco has achieved higher net profit of Rs.224.04 crore as against Rs.159.50 crore in similar quarter of previous fiscal, company sources said here today.

Similarly, the sales turnover of the Navaratna PSU surged by about 30 per cent to Rs.1548.75 crore over the comparative quarter of last year, they said.

The net profit and sales turnover for the half year ended September 2010 were also higher at Rs.508.09 crore and Rs.2936.91 crore, respectively, as against the corresponding figures of Rs.285.94 crore and Rs.2169.70 crore achieved during the first six months of the previous fiscal.

During the first half, Nalco has also achieved a record production of 221,963 MT of metal compared to 207,794 MT in corresponding period of previous fiscal, registering a growth of 6.8 per cent, they said.

Similarly NALCO has also achieved a higher metal sale of 217,136 MT during first half of current fiscal, registering an increase of 9.2 per cent against 198,803 MT sale of metal in corresponding period last year.