NALCO profit up 61 per cent sequentially in Q3; net profit pegged

NALCO profit up 61 per cent sequentially in Q3; net profit pegged at Rs 274 crore

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NALCO profit up 61 per cent sequentially in Q3; net profit pegged at Rs 274 crore

February 10

23:08 2023

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by indadmin

By A K Sahoo

Bhubaneswar, Feb.. 10: National Aluminium Company Limited (NALCO), the Navratna Central Public Sector Enterprise (CPSE), under the Union ministry of mines, on Friday declared its financial results for the 3rd quarter ended December 2022.

According to the reviewed financial results for the 3rd quarter of FY 23, taken on record by the Board in the meeting held at Bhubaneswar, NALCO has achieved net profit of Rs 274 crore, as against Rs170 crore in the preceding quarter of this fiscal.

The net sales turnover in the 3rd Quarter was Rs 3,290 crore.

Lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility has affected the profit margins despite the fact that the company has registered robust growth in production on all fronts.

“Operational efficiency and team work of NALCO had played a key role in overcoming the slump period. With firming up of aluminium prices globally and higher production volumes, we are sure that it will certainly add to the profit margins in the coming quarters. We are also hopeful that the Q4 results will contribute significantly for the overall FY 23 results,” said Shri Sridhar Patra, CMD, NALCO.