Nalco Q2 profit at ₹107 crore

National Aluminium Company Ltd (Nalco) on Wednesday reported a consolidated profit of ₹107.27 crore for the quarter ended September 30. The company had posted a loss of ₹28.25 crore for the year-ago period, Nalco said in a filing to BSE.

The company's income during July-September period declined to ₹2,399.05 crore from ₹2,420.11 crore in the year-ago period, the filing said. "The year began with unforeseeable challenges, which has affected the entire world. NALCO collective rose to the challenge and braved all odds to overcome the sluggishness in the market and get the business operations back on track amidst the pandemic.

"The company is geared up to take all necessary actions to remain competitive, deliver world-class products to our customers and contribute towards building an Atmanirbhar Bharat," NALCO CMD Sridhar Patra said in a statement. During the quarter, the leading manufacturer and exporter of alumina and aluminium in the country achieved strong growth in export, registering sales of 58,574 metric tonne (MT) of aluminium compared to 16,305 MT in corresponding period last year.

The total alumina sales during the second quarter was 285,718 MT. During the first half of the ongoing fiscal, the company achieved 3-fold jump with export of 9,3730 MT aluminium compared to 3,0561 MT in the corresponding period last year.