State-owned National Aluminium Company (Nalco) today reported an 80% plunge in net profit for the third quarter ended December, at Rs 51.22 crore, although income remained almost stable.

The company had clocked Rs 256 crore net profit in the October-December quarter of last fiscal (2010-11), Nalco said in a filing to the Bombay Stock Exchange (BSE).

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Total expenditure of the company rose to Rs 1,508 crore compared to Rs 1,157 crore a year ago.

Power & fuel costs went up to Rs 568 crore vis-a-vis Rs 443 crore. Raw material consumption during the period was also up at Rs 265 crore against Rs 208 crore during the same period period of previous fiscal.

Nalco scrip closed at Rs 61.90 apiece, down 2.9% over the previous closing on the BSE.

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