National Aluminium Company Limited (NALCO), the Navratna CPSE under the Ministry of Mines, has declared its financial results for the third quarter of the financial year 2022-23, which ended December 2022. According to the reviewed financial results, NALCO achieved a net profit of Rs.274 crore, compared to Rs.170 crore in the previous quarter of the same fiscal year.
The company faced a lower sales volume of alumina during the quarter, coupled with higher input costs and a challenging global business scenario, which affected the profit margins. Despite these challenges, NALCO’s operational efficiency and teamwork helped the company overcome the slump period and achieve robust growth in production.
The third quarter saw a net sales turnover of Rs.3290 crore. The firming up of aluminum prices globally and higher production volumes are expected to add to the profit margins in the coming quarters, with the fourth quarter of the fiscal year contributing significantly to the overall results for the financial year 2022-23.
Shri Sridhar Patra, CMD of NALCO, stated that the company’s operational efficiency and teamwork played a key role in overcoming the challenges and achieving robust growth in production. The company is confident that the firming up of aluminum prices and higher production volumes will positively impact the profit margins in the future.
NALCO has shown resilience in the face of challenges and continues to strive for operational excellence and growth. The company’s performance in the third quarter of the financial year 2022-23 is a testament to its commitment to delivering sustainable value to its stakeholders.
