NALCO profit up 61% in Q3, net profit at Rs 274 crore
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The National Aluminium Company Ltd (NALCO), a Navratna CPSE under Ministry of Mines, posted a net profit of Rs 2 74 crore for the third quarter ending December 31, 2022, as against Rs 170 crore in the preceding quarter.
As per the reviewed financial results for the 3rd quarter of FY 23, taken on record by the Board in the meeting held at Bhubaneswar, NALCO recorded a net sales turnover of Rs 3,290 crore.
Lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility has affected the profit margins despite the fact that the company has registered robust growth in production in all fronts.
Operational efficiency and team work of NALCO had played a key role in overcoming the slump period. Firming up of aluminum prices globally and higher productions volumes, will certainly add to the profit margins in the coming quarters and Q4 of the fiscal will contribute significantly for the overall FY 23 results, CMMD Sridhar Patra said.
