Nalco’s profit goes up five times during Q4

nalcoProfit of state-run aluminum producer, National Aluminium Company Ltd. has increased five-folds for the fourth quarter ending March 31.

The fourth quarter profit of the company was Rs 391.48 crore, which is higher than the figure of Rs 83.02 crore for the last year.

Total income of the company was Rs 1,625.97 crore for the period between January to March. This is higher than Rs 1,125.66 crore for the same period of last year.

However, for the whole year period it saw the profit go down. In a filing with the BSE, it reported a profit of Rs 832.60 crore, which is 34.55 per cent lower than last year.

Meanwhile, in another announcement, Nalco said that it is planning to increase the fund for research and development purposes. It said that the total corpus for this purpose will now be increased to Rs. 80 crore.

Also in another development, the Union Minister for Mines, B K Handique has refused a proposal by the Finance Ministry to sell 10 per cent stake in Nalco. This is the first rejection of its kind.

The minister said that the company is in no need for any such fund raising.