NALCO’s Net Profit Dipped By 51 Percent Last Quarter

NALCO’s Net Profit Dipped By 51 Percent Last Quarter

India’s National Aluminum Company Ltd (NALCO) turned in results for the final quarter of fiscal year 2023, registering a decline in its performance over the same time last year.

In the just-ended quarter NALCO returned a net profit of ₹459 crore, off by 51.7 percent from last year’s fourth quarter net profit of ₹1025.46 crore. Revenue from operations in the quarter came to ₹3,670.9 crore, falling by 15.6 percent from last year’s total of ₹4,340 crore.

Meanwhile, NALCO’s EBITDA in the quarter totaled ₹766.5 crore, dropping 52.9 percent from last year’s EBITDA, which figured at ₹1,618 crore. Expenses in the quarter totaled ₹3,160.6 crore while total income for the quarter came to ₹3,726.7 crore.

The firm said in a regulatory filing that the market has made it difficult for the firm to turn in stronger numbers.

“The higher input cost coupled with challenging global business environment, supply-demand and market volatility, has impacted NALCO’s profit margins as expected despite the fact that the company has registered considerable growth in several fronts in FY 2022-23.”

“The focus of the company is now on early completion of the 5th Stream Refinery project and development of Pottangi Bauxite mines and Utkal D & E coal Blocks in Odisha,” explained Sridhar Patra, CMD, NALCO. “Operationalization of these mines shall play a pivotal role in offsetting the vulnerability to adverse market conditions, capitalizing on emerging opportunities and shall deliver long-term value to our stakeholders.”