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NALCO’s Net Profit for 2018-19 Jumps by 29%

  • NALCO’s Net Profit for 2018-19 Jumps by 29%
  • NALCO Beats Market Trends to Register Stellar Performance in 2018-19, Net Profit Increase By 29%
  • NALCO Registers Best Performance in a Decade with Rs.1,732 Crore Net profit, a growth of 29% over previous year
  • NALCO way ahead of its Private Sector Peers in EBIDTA Margin

Bhubaneswar, 1/06/2019: Continuing its soaring performance, National Aluminium Company Limited (NALCO), a Navratna PSU under Ministry of Mines, Government oflndia, has once again proved its mettle by registering high in terms of both physical and financial performances.

According to the audited financial results for 2018-19, taken on record by the Board of Directors in a meeting held on 30th May 2019 in New Delhi, during the FY 2018-19, NALCO has registered a net profit of Rs. I 732 crore, a growth of29%, i.e. Rs. 390 crore over last year’s net profit of Rs.1342. I 9 crore. In 4 th quarter the Company has earned a net profit of Rs. 233 crore. During the year, the Net sales turnover for the year is Rs.11,386 crore registering a growth of21 % over last year. Export earning of Rs. 4792.71 crore also registering a growth of I 8 % over last year.

With I 00% capacity utilization, NALCO’s Panchpatmali Mines has achieved Bauxite excavation of 7 4.14 lakh MT, which is highest ever since inception. Bauxite transportation has gone up to 72.31 lakh MT, which is also highest ever since inception. Company’s Alumina Refinery has produced highest-ever 21.53 lakh MT of Alumina Hydrate and set a new record. Steam & Power Plant (SPP) of Alumina Refinery achieved highest ever net power generation. Further, Aluminium Smelter achieved highest cast metal production of 4.40 lakh MT in last 8 years. NALCO’s Smelter has produced highest-ever Wire rod, billet, green anode, rodded anode, TIngot since inception. Wind power generation of 363 MU is also highest ever since inception. In short, year 2018-19 has been a year of new records in production since inception.

It may also be noted that NALCO has ended financial year 2018-19 on a strong performance in domestic sale which is highest-ever since inception. Total metal sale of 4.41 lakh MT registered a growth of 3.5% over last year and also Domestic sale of metal of 4.02 lakh MT registering a growth of 14.9% over last year are highest ever since inception. Further, as per the Public Enterprise Survey of Department of Public Enterprises (DPE), the Company has been rated as the 3 rd Highest ‘Net Foreign Exchange Earning CPSE’ in the Country for the year.

NALCO has recorded an all-round success and global benchmarks in the Fiscal 2018-19. Along with significant achievements on production front, NALCO achieved the distinction of becoming the lowest cost producer of alumina in the World, as per the Wood Mackenzie report, for three consecutive years. Going a step further, the company has also been ranked as the Lowest-cost Producer of Bauxite in the World for the year 2018-19. In matters of profitability, NALCO is way ahead of its private sector peers by registering EB IDT A Margin of28%. Industry analysts attribute NALCO’s splendid performance to the implementation of its New Business Model since 2016.

About Ashok Palit

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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