New Delhi: National Aluminium Company Ltd (NALCO) reported on Wednesday an 83.2 percent decline in consolidated net profit which stood at Rs 125.43 crore in the September quarter due to higher expenses and lower income. The company had posted a consolidated profit of Rs 747.80 crore during the previous year. The consolidated income of the company during the July-September period dropped to Rs 3,558.83 crore from Rs 3,634.59 crore in the year-ago period. The consolidated expenses of the company during the second quarter increased to Rs 3,312.95 crore from Rs 2,618.52 crore in the year-ago period.
On quarter-on-quarter basis, NALCO recorded a decline of 7.8 percent in its revenue from operations. The revenue from operations in the September quarter was Rs 3,489.57 crore while the company had posted a revenue of Rs 3,783.32 crore in the previous quarter. NALCO also reported a decline of 7.4 percent in its total income on q-o-q basis. In the previous quarter, the company recorded a total income of Rs 3,846.22 crore while in the present quarter, its total income was Rs 3,558.83 crore.
The company has also reported a 240.78 percent increase in its borrowings. As on March 31, its borrowings were Rs 20.67 crore while now it is Rs 70.44 crore.
NALCO, a navratna CPSE, is one of the largest integrated bauxite-alumina-aluminium-power complexes in the country. At present, the centre holds 51.28 percent of paid-up equity capital. The company has been operating its captive Panchpatmali Bauxite Mines for the pit-head alumina refinery at Damanjodi, in Koraput district of Odisha and aluminium smelter and captive power plant at Angul in Odisha.