Home » National » NALCO’s net gain was around Rs. 100 crore due to rationalization of taxes:Dr. Tapan Kumar Chand

NALCO’s net gain was around Rs. 100 crore due to rationalization of taxes:Dr. Tapan Kumar Chand

 

Bhubaneswar:3/1/18;  NALCO, the Navratna CPSE has declared 2018 as the year of happiness for the shareholders. employees, contract employees, peripheral villages and other stakeholders. The CMD of the company, Dr. Tapan Kumar Chand said this while interacting with media persons on the backdrop of excellent performance of NALCO in the year 2017. “During last two years or more, NALCO has taken many initiatives in this direction and today NALCO has become a household name in Odisha. a blue chip company in India and a company to watch abroad. NALCO’s focus on 3D – Dedication, Determination and Discipline have made the company a collective acclaimed all across the industries.In his address, Dr. Chand highlighted the significant performance of NALCO in the year 2017:• 100% capacity utilization of Bauxite Mines• Achievement of 100% normative capacity of Alumina Refinery• Recognition as the lowest cost producer of Alumina for 2016 & 2017 by Wood Mackenzie.• Commissioning of first-of-its kind Detluoridation plant in the World using Nano based Emrion technology• Addition of a new value added product AA 3105 Alloy Fan Blade stockIn terms of financial results, there is a 94% growth in net profits in 2nd Quarter of 2017-18 and Net sales turnover has jumped 30% to Rs.4179 crore in first half 2017-18 from Rs.3224 crore of previous year, with net profit registering 42% growth. Also, the share price of NALCO has gone up by 31.7% during the calendar year.In post-GST implementation w.e.f. 01.07.2017, NALCO’s net gain was around Rs. 100 crore due to rationalization of taxes, which the company has graciously passed on to customers in terms of Rs.3000/- discount per ton of aluminium. Fortuitously, alumina & aluminium market have shown shines of firming up, particularly NALCO’s strong alumina arm has leveraged the market by going for sale through global spot tenders. This combined with 100% production in Mines & Refinery (alumina segment) and production optimisation in aluminium smelter have helped NALCO in registering robust growth in profit.In the ensuing Foundation Day scheduled on 4th and 5th January 2018, the company will dedicate three projectsWith a view to ensuring growth with profitability and sustainability, NALCO has introduced an all-weather New Business Model involving expansion, value addition, cost reduction and others. In the upcoming Foundation Day Celebration, the company will dedicate to the Nation the following three projects:1. South Block Bauxite Mines, Panchpatmali, Odisha2. 18.5 MW Turbo Generator at Alumina Refinery, Damanjodi3. Nano Technology based Defluoridation Plant at Smelter, Angel
 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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