Nalco Records 25% Jump in Net Profit in Closing Quarter of FY2016-2017

Nalco Records 25% Jump in Net Profit in Closing Quarter of FY2016-2017

India’s state-owned metals firm National Aluminium Company Limited (NALCO) released financial numbers for the fourth quarter of FY2016-2017 on Saturday. Growth in production, an uptick in productivity, and stronger sales helped the firm turn a profit in the quarter that ended in March.

Nalco showed a year-on-year net profit growth in the quarter of 25.23%, netting a profit of ₹2.68 billion (US$41.5 million), up from last fiscal year’s Q4 take of ₹2.14 billion (US$33.2 million). The number was also a rise over Q3, up 86% quarter-on-quarter from the prior quarter’s net profit of ₹1.44 billion (US$22.3 million).

All in all, Nalco’s FY2016-2017 net profit totaled ₹6.69 billion (US$103.7 million), down from FY2015-2016’s net profit of ₹7.87 billion (US$122.0 million). The firm reported a gross turnover in the fiscal year of ₹79.33 billion (US$1.2 billion).

Nalco went on to emphasize the firm’s substantial production and sales growth in the just-ended fiscal year, describing the company’s 7.65% bump in bauxite production, achieved by running at full capacity utilization of its 6.825 million metric ton nameplate capacity. In addition to this record output, Nalco set another record by producing 2.1 million metric tons of alumina hydrate, an increase of 7.53% over the prior fiscal year.

Nalco’s other facilities registered increased output in the fiscal year as well. The smelter at Angul turned out 4.03% more primary aluminium in the period, totaling 387 thousand metric tons. Nalco’s power plant’s output rose by 3.85% over the previous year, producing 6,066 million units over the course of the fiscal year.

Sales grew in several sectors in the just-ended fiscal as well, with a gain of 6.15% in chemical sales, 6.32% in metal exports, and 2.52% in domestic metal sales.