Coal news and updates

NALCO Q3 net profit up 10%

January 30: State-owned National Aluminium Company Limited (NALCO) registered a 10% growth in net profit during the third quarter of 2013-14 at Rs 131 crore compared to Rs 119 crore recorded during the corresponding quarter of 2012-13.

Net sales during the quarter under review increased 5.49% to Rs 1,620.6 crore from Rs 1,536.54 crore posted in the corresponding quarter of the previous financial year.

The company's alumina hydrate production during the quarter was up 17.4% at 4.66 lakh tons from 3.7 lakh tons in the same quarter of the previous year whereas metal production was down to 0.79 lakh ton from 1.00 lakh tons in the same quarter of the previous fiscal.

For the first nine months of 2013-14, the company's net profit stood at Rs 469.90 crore compared to Rs 346.80 crore posted in the same period last year.

During the nine-month period of 2013-14, NALCO produced 14.26 lakh tons of alumina hydrate, which was 12.2% higher compared to 12.70 lakh tons produced in the corresponding period last year. However, metal production during the period fell 23% to 2.38 lakh tons from 3.05 lakh tons in the same period last year.