Nalco Q1 net profit down 4.4% to Rs 129 crore

We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

Aluminium maker Nalco on Wednesday said its net profit fell by 4.44 per cent to Rs 129 crore for the first quarter ended June 30, 2017.

The state-run firm had clocked a net profit of Rs 135 crore in the year-ago period, it said in a BSE filing.

Total income of the Navratna firm rose to Rs 1,997.43 crore in April-June quarter this fiscal from Rs 1,799.72 crore during the same quarter in 2016-17 fiscal.

Its total expenses were higher at Rs 1,801.48 crore during the period under review from Rs 1,590.82 crore in the year-ago period.

"Nalco has achieved remarkable growth in production in all fronts. During the quarter, bauxite production was 18.81 lakh tonnes, thereby registering 10.4 per cent growth over 17.04 lakh tonnes produced in the corresponding period of previous year," the firm said in a statement.

The total alumina sale during the quarter was 2.59 lakh tonnes, it added.

However, considering the sluggishness of international metal market, Nalco's performance is considered to be a 'silver lining' amid the downturn in both domestic and overseas market, the PSU said.

Shares of the company closed 0.72 per cent up at Rs 70.35 on the BSE.