Nalco 2nd quarter net profit up 40% at 224 cr

Nalco 2nd quarter net profit up 40% at 224 cr

Bhubaneswar: National Aluminium Company Ltd (Nalco) has recorded an impressive increase in profit to 224 crore during second quarter of the current fiscal, showing a 40% surge compared to the corresponding period in the previous year.

According to the reviewed financial results for the second quarter of 2010-11, Nalco has achieved higher net profit of 224.04 crore as against 159.50 crore in similar quarter of previous fiscal, company sources said on Sunday.

Similarly, the sales turnover of the Navaratna PSU surged by about 30% to 1548.75 crore over the comparative quarter of last year, the company said.

The net profit and sales turnover for the half year ended September 2010 were also higher at 508.09 crore and 2,936.91 crore, respectively, as against the corresponding figures of 285.94 crore and 2169.70 crore achieved during the first six months of the previous fiscal.

During the first half, Nalco has also achieved a record production of 221,963 MT of metal compared to 207,794 MT in corresponding period of previous fiscal, registering a growth of 6.8%, the firm said.

Similarly Nalco has also achieved a higher metal sale of 217,136 MT during first half of current fiscal, registering an increase of 9.2% against 198,803 MT sale of metal in corresponding period last year.