Nalco posts INR 274 crores net profit in Q3 FY23, up 61%

On February 10, 2022, the Indian state-owned integrated aluminium company, National Aluminium Company Limited (Nalco), reported a net profit of INR 274 crore in Q3 FY 2022–2023, a rise of 61% from the previous quarter.

According to the reviewed financial results for the third quarter of FY 23 that the Board considered on February 11, 2023, in Bhubaneswar, the Navaratna CPSE company recorded a net profit of INR 274 crores, up from INR 170 crores in the previous fiscal quarter.

The net sales turnover for the third quarter was INR 3290 crore. Despite a significant increase in overall production, lower alumina sales volume during the quarter, higher input prices, and the volatile and challenging global business environment all impacted profit margins.

Sridhar Patra, the CMD of Nalco, said, "Nalco's operational effectiveness and teamwork were essential in getting through the difficult time. We are confident that more significant production volumes and global aluminium price stability will boost profit margins in the upcoming quarters. We are also optimistic that the Q4 performance would substantially impact the total FY 23 outcomes."