National Aluminium Company Limited (NALCO), a central government company having integrated and diversified operations in mining, metal, and power, has kick-started the financial year 2021-22 with a net profit of Rs 347.73 crore in the first quarter ended June 30 and revenue Rs 2474. 55 crore.
The first-quarter results were placed to the Board of Directors who met here yesterday.
The net profit has jumped to Rs.347.73 crore from Rs.16.63 crore achieved in the corresponding period of the previous year.
The company has demonstrated robust performance across all its business segments.
According to the results the company has reported revenue from operations of Rs.2474.55 crore, an increase of 79.2 percent compared to Rs.1380.63 crore achieved in the corresponding quarter of the previous year.
Higher demand, increased capacity utilization in its operational units led to the performance, noted CMD Sridhar Patra.
Bauxite, alumina, and aluminum production have 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 the last fiscal.
“In spite of the challenges imposed due to COVID 19 pandemic, NALCO through strategic planning of raw materials, manpower and marketing initiatives, coupled with a continued focus on cost optimization, has been able to steer towards organizational success”, said Sridhar Patra, Chairman-cum-Managing Director, NALCO.