NALCO Q1 net profit rises 17.6 percent, outlook bright
India's second largest aluminium producer, state-run National Aluminium Company Limited (NALCO) has reported 17.6 percent jump in net profit for the quarter ended June 30, 2008.
The company's net profit in Q1 of FY09 stood at Rs.525.33 crore as against Rs.446.66 crore posted in the corresponding period a year ago (year-on-year or YoY rise of 17.61 percent).
The company's gross sales rose to Rs.1606.41 crore in the quarter under review from Rs.1287.12 crore in the year-ago period (YoY rise of 24.80 percent).
On a YoY basis, the company's net sales rose from Rs.1165.23 crore to Rs.1467.49 crore (YoY rise of 25.93 percent) while total income rose from Rs.1296.23 crore to Rs.1593.70 crore (YoY rise of 22.94 percent).
Segmentwise, the company's revenue from aluminium rose 19.28 percent on YoY basis (from Rs.907.31 crore to Rs.1082.25 crore).
Earnings per share or EPS rose from Rs.6.93 to Rs.8.15 during the June quarter.
Looking ahead, NALCO said it plans to invest around Rs.40,000 crore in various greenfield projects in India and abroad, including Indonesia, South Africa and Iran.
While in Indonesia, NALCO plans to invest around Rs.14,000 crore to set up a 500,000 tonne smelter and a 1,250 MW captive power plant, in India's southern state of Andhra Pradesh, the company also plans to open a new bauxite mine and an alumina refinery.
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