National Aluminium Company (Nalco) has reported that its net profit more than doubled in the December quarter to Rs 119 crore (Rs 51 crore) on the back of better realisations from the chemicals business. Net sales were up 17 per cent to Rs 1,670 crore (Rs 1,430 crore).
The chemical business contributed Rs 710 crore (Rs 613 crore in similar previous period), while Rs 1,278 crore (Rs 1,132 crore) came from aluminium and Rs 488 crore (Rs 466 crore) from the electricity businesses.
Other income
The company recorded other income at Rs 113 crore (Rs 26 crore).
Profit before interest and tax from the chemicals business was at Rs 127 crore (Rs 134 crore), while it was Rs 14 crore (Rs 16 crore) from the power operations.
The aluminium business reported a loss of Rs 22 crore (Rs 153 crore) at the PBIT level.
Shares of the company were up eight per cent at Rs 51 on Wednesday.