Nalco reports 36% drop in Q1FY17 net profit

Aluminium-maker National Aluminium Company Ltd (NALCO) on Monday reported 36% decline in net profit to Rs 135 crore for the quarter ended on June 30 as against Rs 174.3 crore during the quarter ended on June 30, 2015 due to low market realization.

The company's total income increased from Rs 1629.4 crore in the June 2015 quarter to Rs 1682.6 crore in June 2016 quarter. 

As per the company's regulatory filing, during the quarter, the quantum of bauxite production was 17.04 lakh tonnes, up 46% higher than 11.64 lakh tonnes produced in the corresponding period of previous year.

During the quarter, the company produced 94,496 tonnes of aluminium, increased by 10% as against 85,722 tonnes produced in Q1FY16.

The aluminia sale in Q1FY17 was 2.91 lakh tonnes and aluminium sale was 82,386 tonnes. "Considering the sluggishness of international metal market Nalco's performance is considered to be a 'Silver Lining' amidst the downturn in both domestic and overseas markets".

On Monday, the shares of the company closed at Rs 47, down 5.05%, or Rs 2.50. The share had hit a high at Rs 49 and low at Rs 46.70.