State run National Aluminium Company (NALCO) has reported results for the quarter ended September 30, 2011.
The company’s net profit for the quarter has declined by 37.80% at Rs 139.34 crore as compared to Rs 224.04 crore for September quarter of the previous fiscal. Company’s total income has increased by 11.60% at Rs 1746.01 crore for Q2FY12 as compared to Rs 1564.51 crore for Q2FY11.
However, the company has blamed Coal India (CIL) for its poorer financial performance for second quarter. The company in a statement has said that the poor performance for company’s was mainly due to lesser and poor quality coal from Mahanadi Coalfields, a subsidiary of CIL, forcing the company to use imported and more expensive coal, buy power from the state grid and also use more of costlier heavy furnace oil, said a Nalco statement. The additional impact of power and fuel on operating cost during the quarter was Rs 149 crore, it added.
In September, Nalco had to shut about 60 of 960 smelting pots at its Angul facility due to shortfall in output in its captive power plant, following coal supply problems. As against the requirement of 950 Mw of daily power to run the smelter at full capacity, production was 640 Mw
National Aluminium Company (Nalco) was incorporated as a public sector enterprise under the Ministry of Mines. The company has Asia's largest integrated aluminium complex, encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.
| Company Name | CMP |
|---|---|
| National Aluminium | 382.35 |
| Maan Aluminium | 127.60 |
| Arfin India | 91.00 |
| Manaksia Aluminium | 41.60 |
| PG Foils | 205.00 |
| View more.. | |
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