NALCO declared its FY11 results on Monday. The company's net profit was up at Rs 1,069 crore versus Rs 814 crore for the year ended March 31, 2011. Its revenues were up 18% (YoY) at Rs 5,959 crore versus Rs 5,055 crore.
BL Bagra, director finance of NALCO, in an interview with CNBC-TV18's Udayan Mukherjee and Sonia Shenoy, said the fourth quarter realisations are at the same level as the last year. He added that the company has commissioned 120 megawatt units as part of expansion project.
According to a PTI report, the company said: "It has no plans to raise funds from market for its future capital needs. Earlier, the company had projected capital investment of Rs 1057 crore in 2011-12 towards various greenfield and brownfield projects, however, it now depends on its own resources based on healthy cash balance available." Below is the verbatim transcript of his interview. Also watch the accompanying video. Q: Can you take us to the fourth quarter results?
A: On the topline, the sales and total income have risen. For the fourth quarter, the total income stood Rs 1825 crore, as against Rs1642 crore in the same period last year, thus, an increase of Rs 200 crore. However, the profit after tax (PAT) has been recorded at Rs 305 crore versus Rs 373crore in the same quarter previous year.
The decline has been led on the back of provisions made for the wage revision in the non-executive. During this one quarter, the labour front alone has caused Rs 78 crore hit. Also, the element of depreciation exists. This year we commissioned 120MW power unit as part of the expansion project.
Adding these together, the company has taken a hit of almost Rs 95crore. The price increase by Coal India in February this year, which was hefty income particularly for the captive power plants like us, has contributed to the extent of Rs 40 crore in the quarter. Likewise, the higher prices of fuel oil, which is used in crush houses and calcinations of the alumina, has struck Rs 22crore. In the total operating cost, there is a hit of Rs 227crore. Q: Can you give us some more operation metrics? What about the alumina volumes in this quarter around? What kind of realizations have you seen?
A: As far as realization is concerned, there
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