BHUBANESWAR: The second quarter profits of Nav Ratna PSU Nalco have dropped by 38 per cent. The net profit for the quarter ending September stood at Rs 139 crore.The financial results for the second quarter of 2011-12, recorded at a meeting on Saturday, revealed that Nalco registered a net profit of Rs 139.34 crore as against Rs 224.04 crore during the corresponding period in the previous fiscal.The dip in profit was attributed to poor quality of coal supplied by Coal India during the quarter which forced the PSU to use more expensive imported coal, purchased power from State Grid and also used heavy furnace oil in more quantity. The additional impact of power and fuel on operating cost during the quarter was estimated at Rs 149 crore.However, the sales turnover of the aluminium major jumped by nine per cent to Rs 1,689.38 crore as against Rs 1,548.75 crore in the corresponding quarter last year.The reason cited was higher sale prices of alumina and aluminium.
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