Bhubaneswar: National Aluminium Company Limited (Nalco), country’s leading manufacturer and exporter of alumina and aluminium, has posted a net profit of Rs 274 crore, up by 61% in October- December quarter of 2022-23.
The Navaratna CPSE has declared its financial results for the 3rd quarter ended December 2022, here on Friday.
According to the reviewed financial results for the 3rd quarter of the FY 23, taken on record by the Board in the meeting held at Bhubaneswar today, Nalco has achieved net profit of Rs.274 crore, as against Rs.170 crore in the preceding quarter of this fiscal. The net sales turnover in the 3rd Quarter was Rs.3290 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. With firming up of aluminium prices globally and higher productions volumes, we are sure that it will certainly add to the profit margins in the coming quarters. We are also hopeful, that the Q4 results will contribute significantly for the overall FY 23 results, said Nalco CMD Sridhar Patra.