Nalco net down

The sales of the aluminium company were lower by 23 per cent to Rs 1,506.65 crore as against Rs 1,853.54 crore in 1997-98. Gross profit of the company was also lower at 621.35 crore as against Rs 898.69 crore in the corresponding period last year.

The earning per share EPS of the corporation was Rs 3.85 on reduced equity of Rs 644.31 crore compared to EPS of Rs 4.24 on higher equity of Rs 1,288.18 crore last year. The government in January this year had allowed capital restructuring of NALCO by converting 50 per cent of its equity into 14.5 per cent bonds.