Nalco’s Q3 net tumbles 80%

National Aluminium Company (Nalco) has reported results for third quarter ended December 31, 2011.

The company has posted a fall of 79.99% in its net profit of Rs 51.22 crore for the quarter ended December 31, 2011 as compared to Rs 255.95 crore for the same quarter in the previous year. However, total income has increased by 3.07% from Rs 1532.51 crore for Q3FY11 to Rs 1579.51 crore in the quarter under review.

The dip in net profit is primarily because of lower prices of products linked to LME, increase in prices of input raw materials and fuel, and also due to one-time arrear payment following the long-term wage settlement with unions.

Alumina hydrate production, in the nine-month period, however, rose from 1.14 million tonnes to 1.17 million tonnes. Similarly, bauxite produce in this period went up from 3.47 million tonnes to 3.70 million tonnes, recording growth of 6.62 percent.