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Every one rupee slide versus dollar adds Rs 157 crore to company's yearly revenue, says NALCO

Updated : September 06, 2018 14:46:45 IST

Limited supply has given a strong boost to global alumina prices, which have rose to $ 620 by August-end from $490 a ton in July. TK Chand, chairman and managaing director of NALCO spoke to CNBC-TV18 about the company's business plans and outlook.

“The situation in global market will continue to be tight,” Chand said.

“On August 1, prices were $530 per tonne and now the prices have gone to USD 646 per tonne, that is around 20-21 percent increase, we expect that with this development taking place, for the near-term prices will continue to remain firm. It would move somewhere between $625 per tonne to $675 per tonne,” he added.

“Depreciation of Re 1 is we gain around Rs 157 crore in a year. Definitely there will be gain for the company. Per month, it comes to somewhere around Rs 13-14 crore,” said Chand.
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