Team News Riveting
Bhubaneswar, June 30
National Aluminium Company Limited (NALCO), a Central Public Sector Enterprise under minister of mines, had pegged its net profit at Rs 1300 crore in the financial year 2020-21 (FY21).
The Navratna and Asia’s largest integrated aluminium producer had registered a profit of Rs 138 crore in FY20. As compared to the FY20, the profit of NALCO surged by a whopping 840 per cent in the previous fiscal.
The results were driven by strategic decisions on procurement, sales and marketing, favorable LME prices and augmented by strong operational performance by units despite restricted manpower deployment due to COVID guidelines.
According to the audited financial results, taken on record in the Board of Directors meeting held on June 28, 2021, NALCO’s net turnover has improved to Rs 8869.29 crore in FY21 against Rs 8425.75 crore in previous year.
During the year 2020-21, NALCO has achieved the highest ever production of bauxite at 73.65 lakh tonnes. Similarly, the Company also achieved the highest-ever Aluminium metal export of 1.92 lakh tonnes, surpassing the decade old record of 1.46 lakh tonnes achieved in 2009-10. Further, the Company also achieved production of 20.85 lakh tonnes of alumina hydrate in Refinery in Damanjodi and 4.18 lakh tonnes of Aluminium metal from Smelter plant in Angul, Odisha.
Alok Tandon, Secretary to Government of India, Ministry of Mines has congratulated NALCO collective and Board of Directors for the impressive results. Appreciating the NALCO Management under the leadership of Sridhar Patra, CMD, he also urged it to continue the growth momentum in coming years.
