NALCO increases aluminium prices by Rs 6000 a tonne

NALCO, one of India's leading producers and exporters of alumina and aluminium, has raised the basic prices of all grades of ingots, sows, ingots, billets, wire rods, cast strips and rolled products by Rs. 6000 per tonne.

The increase in price is with effect from June 1, 2011. The company had cut aluminum prices by Rs 4500 a tonne in the last month. Aluminum is widely used in power generation equipment and in consumer goods such as cars and also in aircraft, which will affect due to this price rise.

The company’s net profit for the fourth quarter has declined by 18.18% at Rs 305.26 crore as compared to Rs 373.10 crore for the corresponding quarter last year. Its total income has increased by 12.27% at Rs 1922.67 crore for the quarter under review from Rs 1712.58 crore in the corresponding previous quarter.