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Indal net profit inches up

Calcutta, July 30: Indian Aluminium Company (Indal) has registered a 6.25 per cent growth in net profit at Rs 25.5 crore in the first quarter ended June 30 this year as against Rs 24 crore reported in the corresponding period last year.

Net sales, too, surged by 23 per cent at Rs 381 crore compared with Rs 310 crore in the corresponding previous quarter.

The company attributed the topline growth to substantial rise in exports in the reporting quarter. During the period, exports rose by 34 per cent to Rs 103.5 crore compared with Rs 77 crore worth of exports achieved last year.

While the interest burden has come down to Rs 5.3 crore as against Rs 6.1 crore, depreciation rose to Rs 18.6 crore from Rs 16.4 crore.

A company release has pointed out that the higher output from most units, particularly a 40 per cent increase in the production of speciality aluminium and higher metal production from the expanded Hirakud smelter, have also largely contributed to the growth in Indalís turnover as well as the bottomline.

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