Latest News | Nalco Q3 Profit Drops 69 Pc

New Delhi, Feb 10 (PTI) State-owned National Aluminum Company Ltd (Nalco) on Friday posted a 69.1 per cent decline in consolidated profit at Rs 256.32 crore for the quarter ended December 31, 2022.

The company had posted a consolidated profit of Rs 830.67 crore in the corresponding quarter of the previous fiscal, Nalco said in a filing to BSE.

Also Read | Smoking Tobacco, Vaping E-Cigarettes May Raise Risk of COVID-19 in Healthy Young People, Says Study.

Its consolidated income dropped to Rs 3,356.30 crore from Rs 3,845.25 crore in the year-ago period.

In a statement, the PSU said lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility have affected the profit margins despite the company registering robust growth in production.

Also Read | Indian Smartphone Market Dip 27% in Q4 of 2022; Entry-Level, Sub-Rs 25,000 Segment Most Hit.

"With firming up of aluminium prices globally and higher productions volumes, we are sure that it will certainly add to the profit margins in the coming quarters. We are also hopeful, that the Q4 results will contribute significantly for the overall FY 23 results," NALCO CMD Sridhar Patra said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)