New Delhi, May 27 (PTI) State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses.

The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE.

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However, the consolidated total income during the quarter dropped to Rs 3,663.09 crore from Rs 3,726.76 crore in the year-ago period.

The expenses of the company in the fourth quarter of FY24 dropped to Rs 2,720.42 crore from Rs 3,160.50 crore a year earlier.

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Nalco is a Navratna PSU under the ministry of mines. It is one of the largest integrated bauxite-alumina-aluminium-power complex in the country.

The company has formed a JV company -- Angul Aluminium Park Pvt Ltd' (AAPPL) -- with Odisha Industrial Infrastructure Development Corporation (IDCO) to give a boost to ancillary, upstream and downstream products related to the aluminium industry.

(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)