Calcutta, April 25: AV Birla group firm Indian Aluminium Company (Indal) has reported marginal increase in net profit to Rs 118.6 crore for the financial year ended March 2003, compared with Rs 117 crore in the previous fiscal.
While turnover stood at Rs 1,371 crore against Rs 1,364 crore in 2001-02, exports were up by 12 per cent to Rs 392.8 crore as against Rs 349.2 crore in the previous fiscal.
Major initiatives taken during the reporting year include expansion of the smelting capacity at Hirakud to meet the metal requirement for the semi-fab segment, decision to install a power plant and wheel part of the power to Belur.
The company acquired a low-cost foil plant with potential for expansion following the successful merger and integration of Annapurna Foils.
The domestic sales of alumina was up 13 per cent at 1,08,087 tonnes while speciality chemicals rose by 26 per cent.
With the brownfield expansion at Hirakud smelter completed during the year, total metal output from the company’s two smelters touched 51,233 tonnes. Production from the two sheet plants at Belur and Taloja stood at 64,505 tonnes. The foil production rose from 6,736 tonnes in 2001-02 to 8,453 tonnes last year.