Home Mining NALCO Profit Jumps 700%

NALCO Profit Jumps 700%

Bhubaneswar: Navratna CPSE National Aluminium Company Limited (NALCO) registered a handsome rise in its net profit in the second quarter (Q2FY22) ended September 30, 2021 at Rs 748 crore, posting a jump of nearly 700 percent over Rs 107 crore achieved during the year-ago period. This is one of the strongest performances in a decade, with net profit soaring to Rs.1,095 crore at half-yearly stage. The net profit has soared by 783 percent to Rs.1,095 crore, as against Rs.124 crore for the corresponding period of the previous fiscal.

During Q2FY22, the total income from operations stood at Rs.3,592 crore, registering 51 percent growth over Q2 of FY21 which was Rs.2375 crore.

On production front, the state-run aluminium major registered higher production in the second quarter of FY2021-22 on all fronts, i.e. bauxite production, alumina hydrate production and aluminium cast metal production. During Q2FY22, 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 Q2FY21.

During the quarter under review, NALCO 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 the preceding quarter. The total alumina sales during the second quarter registered strong growth of 11 percent with achievement of 3.18 lakh MT compared to 2.86 lakh MT of the corresponding period of the previous fiscal.

Commenting on the impressive performance of the Company, NALCO CMD, Sridhar Patra said, “I compliment the employees of NALCO for coming back strongly in the aftermath of the Covid-19 pandemic, to deliver strong growth in profits and production. Dedicated efforts of employees in maximizing production have helped NALCO to take advantage of the favourable market conditions.’’

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