Aluminium major National Aluminium Company Ltd (Nalco) on Friday reported a 69.2 percent year-on-year (YoY) decline in net profit at Rs 256.3 crore for the third quarter that ended December 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 831 crore.

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In the December quarter, total revenue stood at Rs 3,290 crore during the period under review, down 12.8 percent against Rs 3,773.3 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA declined 61.4 percent to Rs 459.8 crore in the third quarter of this fiscal over Rs 1,190.6 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 14 percent in the reporting quarter as compared to 31.6 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The net sales turnover in the third quarter was Rs 3,290 crore. Lower sales volume of alumina during the quarter, higher input costs coupled with a global challenging business scenario, and volatility has affected the profit margins despite the fact that the company has registered robust growth in production on all fronts.

(Edited by : Pradeep John)