Report by OD bureau, Bhubaneswar: National Aluminium Company Limited (NALCO), a Navratna PSU of Ministry of Mines, Govt. of India, has announced the results for the 2nd quarter ended September 2012.
According to the reviewed financial results for the 2nd quarter of the financial year 2012-13, taken on record by its Board in the meeting held in New Delhi today, NALCO has registered a net profit of Rs.5 crore against Rs.139 crore in the same quarter of the previous fiscal. The net sales is marginally higher at Rs. 1586 crore, as against Rs.1584 crore in the comparable quarter of the previous fiscal.
The sharp dip in profit is mainly due to supply disruption and poor quality of coal during the rainy season, which forced the company to use more costly imported coal, purchased power from State Grid which is even more expensive and also use HFO in more quantity, due to which the net operating cost increased by Rs.149 crore during the quarter.
On 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 2nd quarter of the previous fiscal. As regards metal sales, it was more or less equal during the comparable quarters at 1.01 lakh tonnes.