Nalco’s net profit soars to Rs 1,095-cr

Net profit of Q2 FY 21-22 jumps by 600 per cent over Q2 of last year

By Chittaranjan Beura

Bhubaneswar, Nov. 13: Navratna public sector unit National Aluminium Company Limited (NALCO) has registered a handsome rise in net profit for Q2 FY 21-22 at Rs 748 crore, posting a jump of 600 per cent over Rs 107 crore achieved during corresponding period of last year.

This is one of the strongest performance in a decade, with net profit soaring to Rs 1,095 crore at half-yearly stage. The net profit has soared by 783 profit  to Rs1,095 crore, as against Rs 124 crore for the corresponding period of previous year.

During the quarter, the total income from operations is Rs.3592 crore, registering 51 per cent growth over Q2 of FY20-21, which was Rs 2,375 crore.

On production front, the Company registered higher production in 2nd quarter of FY 21-22 on all fronts, i.e. bauxite production, alumina hydrate production and aluminium cast metal production. During the Q2 FY 21-22, the Company achieved bauxite production of 18.88 lakh tonnes, alumina hydrate production of 5.30 lakh tonnes and metal production of 1.14 lakh tonnes, compared to 17.04 lakh tonnes, 4.87 lakh tonnes and 1.06 lakh tonnes respectively achieved in Q2 FY20-21.

During the quarter, the Company has clocked strong growth in Sales, registering total metal sales of 1.26 lakh metric tonnes (MT) of aluminium compared to 0.91 lakh MT in preceding quarter. The total alumina sales during the 2nd quarter registered strong growth of 11 per cent with achievement of 3.18 lakh MT compared to 2.86 lakh MT of corresponding period of last year.

Commenting on the impressive performance of the Company, Shri Sridhar Patra, CMD, NALCO said, “I compliment the employees of NALCOfor coming back strongly in the aftermath of the Covid pandemic, to deliver strong growth in profits and production. Dedicated efforts of employees in maximizing production has helped NALCO to take advantage of the favourable market conditions.’’