OREANDA-NEWS. December 21, 2011. National Aluminium Company Limited (NALCO), a Navratna PSU of Ministry of Mines, Govt. of India, has announced the results for the 2nd quarter ended September 2011.

According to the reviewed financial results for the 2nd quarter of the financial year 2011-12 taken on record in the meeting held in Bhubaneswar today, Nalco has registered a net profit of Rs.139.34 crore, as against Rs.224.04 crore in the same quarter previous fiscal. The sales turnover, however, surged by about 9% to Rs.1689.38 crore against Rs.1548.75 crore in the comparative quarter of last year on higher sale prices of alumina and aluminium.

The less than expected results are mainly due to lesser and poor quality of coal supplied by Coal India during the quarter, which forced the company to use more expensive imported coal, use purchased power from State Grid and also use HFO in more quantity. The additional impact of power and fuel on operating cost during the quarter was Rs.149 crore.

However, the net profit and sales turnover for the 1st half of 2011-12 have increased to Rs.516.18 crore and Rs.3540.38 crore, respectively, from the corresponding figures of Rs.508.09 crore and Rs.2936.91 crore achieved during the first six months of the previous fiscal.