Bhubaneswar : National Aluminium Company Limited (NALCO), the Navratna CPSE
under the Union Ministry of Mines has made a profit of Rs 347.73 crore in the first quarter.
NALCO sources said the net profit has jumped to Rs.347.73 crore from Rs.16.63 crore achieved
in the corresponding period of previous year.
Beating market expectations, amidst challenging business environment, the company has demonstrated robust performance across all its business segments.
According to the results taken on record at a meeting of the Board of Directors in Bhubaneswar
today, the company has reported revenue from operations of Rs.2474.55 crore, an increase of
79.2 per cent compared to Rs.1380.63 crore achieved in the corresponding quarter of the previous year. This is mainly propelled by strong demand, higher volumes, better realization and effective capacity utilization of its operational units.
On the production front, the production of Bauxite, Alumina and Aluminium have been 17.61 Lakh Tonnes, 5.21 Lakh Tonnes and 1.14 Lakh Tonnes respectively during the quarter compared to 17.10 Lakh Tonnes, 4.65 Lakh Tonnes and 0.98 Lakh Tonnes respectively in the comparative period of the
last fiscal.
NALCO, CMD Sridhar Patra attributed the company’s impressive results to the collective and dedicated team work of the employees.
“In spite of the challenges imposed due to COVID 19 pandemic, NALCO through strategic planning
of raw materials, manpower and marketing initiatives, coupled with continued focus on cost optimization, has been able to steer towards organizational success,” he said.
Mr Patra, has thanked the Union Ministry of Mines, and the State Government for the unstinted support extended to the organization.
UNI
