The Business Bytes
NALCO Q3FY22 net profit jumps 246 pc to Rs 831 cr
TBB BUREAU
BHUBANESWAR, FEBRUARY 7, 2022
Driven by sustained supply of raw material, optimized production, strategic sourcing of power, particularly during the period of coal crisis, better realization and effective capacity utilization of its operational units, Navratna CPSE National Aluminium Company Limited (NALCO) has surpassed several milestones in its journey of business excellence in Q3 of financial year 2021-22 (FY22) clocking a net profit of Rs 831 crore in the quarter under review. With this, the company has registered nearly 3.5-fold increase in net profit – a jump of 246 per cent as compared to Rs 240 crore in Q3 of FY21.
The Company has also broken the highest profit figure clocked since inception for the first nine month period, with Net profit of Rs. 1,926 crore for the period ending Dec 2021, a 5-fold increase and a substantial jump of 429% over 364 Cr posted in corresponding period of previous fiscal.
The total revenue from operations in Q3 of FY22 witnessed substantial growth, clocking Rs. 3,773 crore compared to Rs.2,379 crore in Q3 of FY21.
NALCO also declared a second interim dividend of Rs. 3 per equity share (60 percent of face value of Rs.5 per share) for FY 21-22. The first interim dividend of Rs.2 per equity share was paid in Dec 2021.
The total interim dividend paid during the current financial year works out to 100% of the paid up equity share capital.
Despite the challenging circumstances due to Covid pandemic, NALCO has displayed exemplary resilience to register solid growth on the Sales and Production front.
During the nine months of current fiscal, the Company achieved production of 55.03 lakh tonne Bauxite compared to 53.48 lakh tonne during corresponding period of FY21, and Alumina Hydrate of 15.41 lakh tonnes, against 15.07 lakh tonnes of previous fiscal.
The Aluminium production also registered healthy growth with full capacity utilization of the Smelter plant at 3.43 lakh tonnes produced in the first nine month ending Dec 2021, against 3.06 lakh tonnes of FY21.
NALCO Collective achieved an important milestone by bringing 960 pots in Smelter Complex into simultaneous operation, achieving 100 per cent capacity utilization for the first time in history of the Company during a critical period defying all odds and challenges.
NALCO Chairman & Managing Director Sridhar Patra attributed the success to the exemplary contributions of the employees in these trying times, and lauded them for focusing on production and productivity.
“The robust growth and all-round performance on production and financial parameters is testimony to the hard work and commitment of the employees and strategic focus on Production, People, and Projects. The strategic growth-oriented roadmap and the relentless quest displayed by the employees to travel the extra mile in these challenging times is praiseworthy,’’ Patra said.
