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Navaratna PSU National Aluminium Company Ltd (Nalco) has registered a net profit of Rs 139.34 crore during the second quarter of 2011-12 showing 38 per cent decline as compared to Rs.224.04 crore in the same quarter previous fiscal.
The sales turnover, however, rose by about 9 per cent to Rs 1,689.38 crore against Rs 1,548.75 crore in the comparative quarter of last year on higher sale prices of alumina and aluminium.
The less than expected results are mainly due to lesser and poor quality of coal supplied to Nalco during the quarter, which forced the company to use more expensive imported coal and purchase power from State Grid, the company release said. The additional impact of power and fuel on operating cost during the quarter was Rs.149 crore.
However, the net profit and sales turnover for the first half of 2011-12 have increased to Rs. 516.18 crore and Rs.3, 540.38 crore, respectively, from the corresponding figures of Rs.508.09 crore and Rs.2,936.91 crore achieved during the first six months of the previous fiscal.
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