The Business Bytes
TBB BUREAU
BHUBANESWAR, AUG 6, 2021
National Aluminium Company Limited (NALCO) on Friday reported a significant rise in consolidated profit at Rs 347.73 crore for the quarter ended on June 30, 2021.
The company had reported a consolidated profit of Rs 16.63 crore in the year-ago period.
Beating market expectations, amidst a challenging business environment, the company has demonstrated robust performance across all its business segments.
The aluminium major has reported revenue of Rs.2474.55 crore from operations, an increase of 79.2 per cent compared to Rs.1380.63 crore achieved in the corresponding quarter of the previous financial year. This is mainly propelled by strong demand, higher volumes, better realization and effective capacity utilization of its operational units, the company said.
On the production front, NALCO put up an impressive performance. During the quarter under review, the production of Bauxite, Alumina and Aluminium had been 17.61 lakh tonnes, 5.21 lakh tonnes and 1.14 lakh tonnes respectively, compared to 17.10 lakh tonnes, 4.65 lakh tonnes and 0.98 lakh tonnes respectively in the comparative period of FY 2020-21.
Attributing the company’s impressive results to the collective and dedicated team work of the employees, NALCO Chairman-cum-Managing Director Sridhar Patra said, “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.”
Nalco is a Navratna CPSE under the Ministry of Mines. The company has integrated and diversified operations in mining, metal and power. The Centre holds 51.28 per cent equity of NALCO.
