Despite nine per cent jump in sales revenues, the net profit of aluminium giant NALCO dipped by 21 per cent in 2011-12 fiscal from previous year’s Rs 1,069 crore, primarily due to low demand and rising cost of fuels as well as raw materials, a top company official said today.
“The company has earned a net profit after tax of Rs 850 crore for the year, as compared to Rs 1,069 crore in the previous year, resulting in a slash in net profit by Rs 219 crore, a dip of 21 per cent,” NALCO CMD B L Bagra said at the company’s annual general meeting here.
Sales revenue during the year at Rs 6,500 crore was higher by Rs 541 crore, an increase of 9 per cent as compared to the previous year.
Turning to production, he said the company achieved in the last fiscal the highest—ever performance in Bauxite transportation of 50.03 lakh tonnes against the previous best of 48.79 lakh tonnes achieved in 2009—10.
Similarly, alumina hydrate production of 16.87 lakh tonnes achieved during the year against the previous best of 15.92 lakh tonnes recorded in 2009—10, Bagra said.
Smelter achieved a capacity utilisation of 90 per cent with cast metal production of 4.13 lakh tonnes against the previous best of 4.44 lakh tonnes achieved in the year 2010—11.
As a proactive approach for providing customised products to customers, NALCO has introduced Chequered Sheets, a new product in its sales mix during the year, he said.
The company achieved 4.16 lakh tonnes aluminium metal in 2011—12 as against 4.39 lakh tonnes achieved in preceding year. This included sales of 21,552 tonnes of Rolled Products, which was the highest—ever surpassing the previous best of 20,152 tonnes.
The sale of alumina during the year was 8.42 lakh tonnes against 6.82 lakh tonnes last year, he said.