NALCO suffers 30.2% drop in net to Rs 593 crore in FY13 on lower metal prices

Nalco has suffered a 30.2% drop in net profit to Rs 593 crore in 2012-13 compared to a net of Rs 850 crore in the previous year.

By Rakhi Majumdar, ET Bureau | May 27, 2013, 08.22 PM IST

KOLKATA: National Aluminium Company Limited (Nalco), the navratna PSU under Ministry of Mines, has suffered a 30.2% drop in net profit to Rs 593 crore in 2012-13 compared to a net of Rs 850 crore in the previous year due to lower aluminium prices on the benchmark London Metal Exchange and high input costs. According to the audited financial results for the year, taken on record by the Board of Directors in a meeting held in New Delhi today, Nalco posted a net sales turnover of Rs.6809 crore, up 4.75%, over Rs.6500 crore achieved in the previous fiscal. The rise in sales turnover is mostly attributed to higher production and sale of alumina. In terms of production and sales for the year 2012-13, the company reported improved performance. During the year, Nalco achieved highest-ever bauxite production of 54.19 lakh tonnes, against the previous best of 50.03 lakh tonnes achieved in 2011-12.

Similarly, Nalco’s alumina refinery produced 18.02 lakh tonnes of alumina hydrate, which is an all-time high, against the previous best of 16.87 lakh tonnes achieved in 2011-12. However, during the year, the compay's metal production declined marginally from 4.13 lakh tonnes to 4.03 lakh tonnes, due to planned shutdown of pot shells of the smelter. The net power generation by company’s Captive Power Plant was 6,076 million units. In terms of sales, during the year, the company sold 9.85 lakh tonnes of alumina hydrate, against 8.43 lakh tonnes in 2011-12. Aluminium export by the company also increased to 1.44 lakh tonnes this year from 0.98 lakh tonnes achieved in the last financial year.

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