NALCO Q4 profit up 371 percent at Rs.391 crore

BHUBANESWAR - State-owned National Aluminium Company Limited (NALCO) Saturday announced a 371 percent rise in net profit at Rs.391.48 crore for the fourth quarter of 2009-10 ended March 31.

In the same quarter of the previous year, the company had earned a net profit of Rs.83.02 crore, a company statement said here.

“The improved profit is due to enhanced volume of production and sale, improved consumption norms of input materials and increasing trend in London Metal Exchange (LME) Aluminium price, which in turn helped the company achieve better sales realization in alumina and metal,” the statement said.

“The net profit and turnover for the financial year 2009-10 works out to Rs.832.60 crore and Rs.5,310.46 crore respectively, as against the corresponding figures of Rs.1272.22 crore and Rs.5531.06 crore achieved during the previous year,” it said.

The company said during 2009-10 it achieved an all-time high in production of alumina and aluminium.

“The company achieved the highest-ever metal production of 4.31 lakh tonnes in 2009-10, against the previous best of 3.61 lakh tonnes in 2008-09, with an increase of 14.4 per cent”, the statement said.

Similarly, the company achieved record production of 15.92 lakh tonnes of alumina hydrate, with capacity utilization of 101.05 per cent against the previous year’s level of 15.77 lakh tonnes, it said.

NALCO said it is going ahead with projects worth Rs.50,000 crore lined up as part of its greenfield and brownfield expansion plans.