NALCO Registers Strong Performance; H1 Net Profit jumps three-fold
Deepthi | Myequity news | Date : 12-11-2018 21:30:00 IST
National Aluminium Company Limited (NALCO), a Navratna PSU under Ministry of Mines, Govt. of India, has once again repeated its strong performance by posting a turnover of Rs.5952 crore in the first half of FY 2018-19, i.e. 42% growth over H1 of FY 2017-18. The net profit of the company has gone up from Rs.364 crore in H1 of the previous fiscal (2017-18) to Rs.1197 crore during the first half of 2018-19, registering a growth of 229%.
While the net profit of NALCO in the H1 of current fiscal has increased around three-fold, operating Profit of the company has increased more than four-fold, registering Rs.1624 crore in 2018-19 compared to Rs.334 crore in H1 of FY 2017-18. EBIDTA margin of the company during the period has doubled from 17 % to 34%.
According to the reviewed financial results for the 2nd quarter and first half of the financial year 2018-19 taken on record by the Board of Directors in the meeting held at Bhubaneswar today, NALCO has achieved a net profit of Rs.510 crore, as against Rs. 235 crore in the corresponding quarter of previous fiscal, registering around two-fold growth. The operating profit of 2nd quarter ofFY18-19 has increased by 229% at Rs735 crore, as against Rs.223 crore in the 2nd quarter of FY17-18.
Despite high volatility in alumina and aluminium markets due to US Trade Sanctions etc. NALCO has been able to significantly improve its performance due to the New Business Model introduced by the company one and a half year back, which has helped in doubling its net profit during the last financial year 2017-18 and significant improvement further in Q1 of 2018-19, wherein NALCO registered a net profit of Rs.687 crore over Rs. 129 crore in Q1 2017-18. The performance of NALCO continued to be upbeat in Q2 of this fiscal. Under the New Business Model, the focus has been on reducing the specific consumption, cost reduction, production augmentation, strategic marketing in spot market etc. dedicated and determined Team NALCO, under the leadership of Dr. T.K. Chand, CMD, is confident to post a record turnover and profit in FY 2018-19.