NALCO profit up 61% sequentially in Q3
National Aluminium Company Limited (NALCO), the Navratna CPSE under the Ministry of Mines, has declared its financial results for the 3rd quarter that ended December 2022. As per the reviewed financial results for the 3rd quarter of the FY 23, taken on record by the Board in the meeting held at Bhubaneswar, NALCO has achieved a net profit of Rs.274 crore, as against Rs.170 crore in the preceding quarter of this fiscal.
The net sales turnover in the 3rd Quarter was Rs.3290 crore. Lower sales volume of alumina during the quarter, higher input costs coupled with the global challenging business scenario, and volatility have affected the profit margins despite the fact that the company has registered robust growth in production on all fronts.
The operational efficiency and teamwork of NALCO played a key role in overcoming the slump period. Firming up of aluminum prices globally and higher production volumes, will certainly add to the profit margins in the coming quarters and Q4 of the fiscal will contribute significantly to the overall FY 23 results, stated Shri Sridhar Patra, CMD, NALCO.
**PIB India**
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