Home » Business » NALCO scripts turnaround story; Net profit jumps by 123 % to Rs. 240 crore in 3rd Qtr of FY21

NALCO scripts turnaround story; Net profit jumps by 123 % to Rs. 240 crore in 3rd Qtr of FY21

Bhubaneswar, 12.02.2021: National Aluminium Company Limited (NALCO), the Navratna PSU, under Ministry of Mines, Govt. of India and country’s leading manufacturer and exporter of alumina and aluminum, clocked a net profit of Rs.240 crores for the 3rd quarter ended December 2020. The net profit has jumped by 123 % over the previous quarter of current fiscal, which was Rs.107 crore.

The net profit for the nine months ended December 2020 has grown more than ten-fold to Rs.364 crore as against Rs.35 crore in corresponding period of last year. The total income in Q3 of FY21 witnessed substantial growth, clocking Rs.2,415 crores compared to Rs.2,137 crores in Q3 of FY20.

On the sales front, the net sales of alumina hydrate for Q3 of FY21 was 3.44 lakh tonnes compared to 3.33 lakh tonnes achieved in the corresponding period of last year. Aluminum export also registered impressive growth, with sales volume of 1.38 lakh tonnes during the first nine months of FY21 as compared to 0.50 lakh tonnes during the same period of FY20.

On production front, the Company achieved strong growth in Q3 of FY21, with Bauxite production of 19.34 lakh tonnes, Alumina hydrate production of 5.55 lakh tonnes while metal production achieved was 1.02 lakh tonnes.

During the first nine months of the current fiscal, NALCO achieved production of 53.48 lakh tonnes of bauxite, 15.07 lakh tonnes of alumina hydrate while metal production was 3.06 lakh tonnes.

Shri Sridhar Patra, CMD, NALCO, said, ‘’NALCO has shown overall growth and resilience to script a turnaround after the peak period of COVID19 outbreak. The employees and workers delivered when it mattered under challenging circumstances. The Company is geared up to meet the increase in demand with the gradual opening up of the market and the economy. The Company is also focused on operationalizing the ongoing projects, viz. Utkal-D Coal block, 5th Stream Alumina Refinery & Caustic Soda JV projects, etc., which will substantially bolster the bottom line of the Company.

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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