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.”