Nalco Q3 profit drops 69% YoY to Rs 256 crore

Nalco consolidated income dropped to Rs 3,356.30 crore from Rs 3,845.25 crore in the year-ago period.

State-owned National Aluminum Company Ltd (Nalco) on Friday posted a 69.1 per cent decline in consolidated profit at Rs 256.32 crore for the quarter ended December 31, 2022.

The company had posted a consolidated profit of Rs 830.67 crore in the corresponding quarter of the previous fiscal, Nalco said in a filing to BSE.

Its consolidated income dropped to Rs 3,356.30 crore from Rs 3,845.25 crore in the year-ago period.

In a statement, the PSU said lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility have affected the profit margins despite the company registering robust growth in production.

"With firming up of aluminium prices globally and higher productions volumes, we are sure that it will certainly add to the profit margins in the coming quarters. We are also hopeful, that the Q4 results will contribute significantly for the overall FY 23 results," NALCO CMD Sridhar Patra said.