Indian Aluminium Company Ltd. (Indal) has reported its best ever first quarter performance in terms of sales and net profits. Sales of the company have improved by 18% YoY to Rs 3.4 bn while the bottomline has risen by 12% to Rs 287 m. Although the performance is respectable, the growth has declined as compared to the previous fiscal. In 1QFY01, the company had reported a top and bottomline growth of 27% and 46% respectively. For the full year FY01, turnover and PAT growth was 22% and 38% respectively.
The company has attributed the improved performance to better realization in domestic sales. However, the near term outlook is grim with international aluminium prices declining to $1,400 - $1,450 / tonne. Alumina prices also remain depressed, as demand for aluminium is depressed. Alumina prices are quoting approximately at $135 / tonne. The company expects a revival in the second half of the year boosted by agricultural growth.
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