BHUBANESWAR, Oct 26:
The National Aluminium Company Limited (NALCO), a Navratna PSU of the Ministry of Mines, has registered a
net profit of Rs five crore for the second quarter of the financial year 2012-13 ended September 2012.
According to the reviewed financial results taken on record by its Board in the meeting held in New Delhi yesterday, NALCO had registered a sharp dip of nearly 96 per cent in its profit compared to Rs.139 crore achieved in the same quarter of the previous fiscal.
However, the net sales stood marginally higher at Rs 1586 crore, as against Rs.1584 crore in the comparable quarter of the previous fiscal.
The company attributed the sharp dip in profit mainly to supply disruption and poor quality of coal during the rainy season, which forced the company to use more costly imported coal, purchase power from State Grid, which is even more expensive and also use HFO in greater quantity.
All these factors, the sources said, led to the net operating cost increased by Rs.149 crore during the quarter.
On the production front, the alumina production was marginally higher at 3.98 lakh tonnes as against 3.88 lakh tonnes during the corresponding quarter of last year.
However, during the quarter, power generation was slightly less at 1444 million units as against 1466 million units and aluminium production was 1.02 lakh tonnes as against 1.05 lakh tonnes achieved in the second quarter of the previous fiscal.
As regards metal sales, it was more or less equal during the comparable quarters at 1.01 lakh tonnes. (UNI)
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