Bhubaneswar : The National Aluminium Company Limited (NALCO) has registered a 58 per cent increase in net profit to Rs 271 crore during the first quarter of current fiscal. The Navratna PSU under the Ministry of Mines, announced the results for the quarter ended June, 2014, after the Board of Director’s meeting in New Delhi.
The growth in company’s topline was entirely driven by its chemicals business that accounted for around 45% of the company’s topline in the latest quarter. The business includes manufacturing of calcined alumina, alumina hydrate and zeolite. During the quarter under review, the quantum of bauxite, alumina and aluminium production was at 14.04 lakh tonnes, 4.076 lakh tonnes and 79,240 MT respectively, said a company release.
In spite of reduced production level, the company has been able to post higher profits due to improved specific consumption of coal, caustic soda and others, the release said. The total alumina sale during the quarter was at 3.15 lakh tonnes, primarily through exports. Aluminium sales stood at 77,400 MT which was in both India and overseas market, it said.