Metal output slashed due to lower lME price
The National Aluminium Company limited (Nalco) has declared its financial results for the 2013-14 fiscal. According to the audited financial results, taken on record by the Board of Directors at a meeting held in New Delhi on Wednesday, the Central PSU has posted a net profit of Rs 642 crore during the year compared to Rs 593 crore during the previous fiscal, up by 8 per cent.
The export turnover of the company was an all-time high at Rs 3,719 crore. The company reported improved performance in terms of production for the year 2013-14. It also achieved the highest-ever bauxite production of 62.93 lakh tonnes against the previous best of 54.19 lakh tonnes achieved in 2012-13.
At the same time, the Nalco’s alumina refinery produced 19.25 lakh tonnes of alumina hydrate, which is an all-time high against the previous best of 18.02 lakh tonnes in 2012-13.
However, during the year, the metal production of the company was curtailed from 4.03 lakh tonnes to 3.16 lakh tonnes in a planned shutdown of some pots due to lower lME (london Metal Exchange) price. The net power generation by the company’s captive power plant was 4,989 million units.
The company achieved the highest-ever sale of alumina / hydrate of 13.43 lakh tonnes against 9.85 lakh in previous year. The total metal sale was 3.20 lakh tonnes against 4.03 lakh tonnes in 2012-13.