BHUBANESWAR: National Aluminium Company Limited (NALCO) on Monday posted more than a three-fold jump in net profit for the first half (H1) of the current fiscal year. According to the firm, net profit for H1 jumped to Rs 1,197 crore from Rs 364 crore in the corresponding period of last year. Revenues, meanwhile, grew 42 per cent year-on-year to Rs 5,952 crore.
Meanwhile, the operating profit of the company in H1 increased more than four-fold, reaching Rs 1,624 crore in 2018-19 compared to Rs 334 crore in H1 last year. “EBITDA margin of the company during the period has doubled from 17 per cent to 34 per cent,” the company said.
As for the second quarter, NALCO achieved a net profit of Rs 510 crore, as against Rs 235 crore in the corresponding quarter of the previous fiscal, while operating profit increased by 229 per cent to Rs 735 crore, as against Rs 223 crore last year.
“Despite high volatility in alumina and aluminium markets due to US trade sanctions etc. NALCO has been able to significantly improve its performance due to the new business model introduced by the company one and a half year back,” the company said.