Nalco Q3 net up 10 per cent at Rs 131 crore

National Aluminium Company Ltd (NALCO) on Wednesday reported a 10 per cent jump in net profit at Rs 131 crore for the third quarter that ended on December 31, 2013.

The city-based Navratna PSU had posted a net profit of Rs 118.94 crore for the corresponding quarter a year ago.

Nalco's net sales were down 2.94 per cent at Rs 1,620.96 crore during October-December 2013, compared with Rs 1,670.06 crore in the third quarter of the previous fiscal year (FY13), it said in a filing to the BSE.

Total expenditure of the company stood at Rs 1,570.31, amounting to 96.88 per cent of the net sales. Other income, which is primarily interests earned on deposits, rose by 7.18 per cent to Rs 120.77 crore in the last quarter.

According to the reviewed financial results, during the first nine months of this fiscal year, Nalco produced 14.26 lakh tonnes of alumina hydrate, up 12.2 per cent against 12.70 lakh tonnes achieved during the corresponding period of the previous fiscal year.

Metal production, however, was down at 2.38 lakh tonnes from 3.05 lakh tonnes in the comparable nine months of the previous fiscal.

Power generation was at 3,760 MU against 4,582 MU achieved in the corresponding period of the previous year. In the third quarter of FY14, alumina hydrate production was at 4.66 lakh tonnes, 17.4 per cent higher as compared to 3.97 lakh tonnes achieved in the corresponding quarter of the previous fiscal year.

Metal production in quarter ended December 2013 has gone down to 0.79 lakh tonnes, against 1.00 lakh tonnes achieved in the same quarter of the previous year.

Power generation was at 1,249 MU in this quarter, as compared to 1,525 MU of the corresponding quarter in FY13.

Shares in Nalco, on Wednesday, ended at Rs 36.50 apiece on the BSE, up 2.96 per cent from the previous close.