Net profit for Q3 pegged at Rs. 274 crore
National Aluminium Company Limited (NALCO), the Navratna CPSE under Ministry of Mines, has declared its financial results for the 3rd quarter ended December 2022. As per the reviewed financial results for the 3rd quarter of the FY23, taken on record by the Board in the meeting held at Bhubaneswar, NALCO has achieved net profit of Rs. 274 crore, as against Rs. 170 crore in the preceding quarter of this fiscal.
The net sales turnover in the 3rd Quarter was Rs. 3290 crore. Lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility has affected the profit margins despite the fact that the company has registered robust growth in production in all fronts.
Operational efficiency and team work of NALCO had played a key role in overcoming the slump period. Firming up of aluminum prices globally and higher productions volumes, will certainly add to the profit margins in the coming quarters and Q4 of the fiscal will contribute significantly for the overall FY23 results, stated Shri Sridhar Patra, CMD, NALCO.