Nalco Q4 net profit drops 9% to Rs234 cr; FY19 net up 29% at Rs1,732 cr
31 May 2019
State-owned National Aluminium Co Ltd (Nalco) has reported a 9.1 per cent decline in its standalone net profit at Rs233.5 crore for the quarter ended 31 March against a profit of Rs257 crore in the year-ago quarter
Standalone revenue from operations for the quarter declined to Rs2,766.2 crore, from Rs2,863.1 crore in the year-ago quarter, the company stated in a filing with stock exchanges.
For the full fiscal 2018-019, the company said its net profit jumped 29 per cent to Rs1,732 crore from Rs1,342.19 crore in the previous year.
In FY19, Nalco’s topline grew 21 per cent to reach Rs 11,386 crore. Its exports earnings of Rs 4,792.71 crore signified a year-on-year (y-o-y) growth of 18 per cent. As a public sector enterprise, Nalco earned the tag of third-highest foreign exchange earner. Also, with an EBITDA (earnings before interest, taxes, depreciation and amortisation) of 28 per cent, the aluminium firm raced past its private counterparts.
"During the year ended March 2019, the net sales turnover was Rs 11,386 crore, registering a growth of 21 per cent over the previous year," the statement said.
Gaining from export of surplus alumina, Nalco posted its best ever net profit in a decade. Nalco also ended the financial year 2018-19 with strong performance in domestic sale.
In 2017-18, Nalco had more than doubled its net profit at Rs1,342 crore. However, the record figure was surpassed in FY19 as Nalco scaled new highs in physical and financial performance.
Nalco achieved full installed capacity at its captive Panchpatmalli bauxite mines, excavating 7.41 million tonnes of bauxite. Bauxite despatches moved to 7.23 million tonnes, the best since Nalco commenced commercial operations. Its alumina refinery at Damanjodi touched a record high output of 2.15 million tonnes of alumina hydrate.
Nalco’s aluminium production of 0.44 million tonnes was the best in the last eight years. Nalco’s Angul smelter churned out the best ever production of wire rods, billets, green anodes, rodded anodes and T ingots.
Nalco also sold 0.44 million tonnes of aluminium, of which 0.4 million tonnes was sold in the domestic market, implying a growth of 14.9 per cent over the previous financial year.