(PTI) State-owned National Aluminum Company Ltd (Nalco) on Friday posted a 69.1 per cent decline in consolidated profit at ₹256.32 crore for the quarter ended December 31, 2022.
The company had posted a consolidated profit of ₹830.67 crore in the corresponding quarter of the previous fiscal, Nalco said in a filing to BSE.
Its consolidated income dropped to ₹3,356.30 crore from ₹3,845.25 crore in the year-ago period.
In a statement, the PSU said lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility have affected the profit margins despite the company registering robust growth in production.
"With firming up of aluminium prices globally and higher productions volumes, we are sure that it will certainly add to the profit margins in the coming quarters. We are also hopeful, that the Q4 results will contribute significantly for the overall FY 23 results," NALCO CMD Sridhar Patra said.