29 JANUARY 2016www.financialexpress.com
Market downturn to hit Nalco profit despite high production
Edited by : AL CIRCLE
1 min read
National Aluminium Company (Nalco) chairman and managing director TK Chand on Tuesday said that the company’s profitability would remain depressed during the current fiscal despite achievement of higher production.
Chand said that the company is set to close the fiscal 2015-16 with a bauxite production of 63 lakh tonnes registering a growth of 10% over the last fiscal.
Similarly, he added, there would be growth of 2.6%, 14 % and 14% respectively in the production of alumina hydrate, aluminium and net power by the end of this fiscal.
The CMD pointed out that even though the profitability of Nalco has registered 39% growth in PAT (profit after tax) in Q2 over Q1, it has remained depressed as compared to last year due to continuous downturn in the market.
He, however, said that the company is determined to make a difference with other industry peers by remaining afloat with profitability and augmenting production by declaring the last quarter January – March as production months. “While productivity and profitability are in focus, we should not lose sight of cost saving measures”, he added.
Chand said that the company is set to close the fiscal 2015-16 with a bauxite production of 63 lakh tonnes registering a growth of 10% over the last fiscal.
Similarly, he added, there would be growth of 2.6%, 14 % and 14% respectively in the production of alumina hydrate, aluminium and net power by the end of this fiscal.
The CMD pointed out that even though the profitability of Nalco has registered 39% growth in PAT (profit after tax) in Q2 over Q1, it has remained depressed as compared to last year due to continuous downturn in the market.
He, however, said that the company is determined to make a difference with other industry peers by remaining afloat with profitability and augmenting production by declaring the last quarter January – March as production months. “While productivity and profitability are in focus, we should not lose sight of cost saving measures”, he added.
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