Home » Business » NALCO registers 9 fold increase in Net Profit for FY 2020-21:Net Profit at Rs.1300 crore, jumps by 840%

NALCO registers 9 fold increase in Net Profit for FY 2020-21:Net Profit at Rs.1300 crore, jumps by 840%

  • NALCO registers 9 fold increase in Net Profit for FY 2020-21
  • NALCO’s Net Profit at Rs.1300 crore, jumps by 840%

Bhubaneswar, 28.06.2021: National Aluminium Company Limited (NALCO), the Navratna CPSE, under the Ministry of Mines, GOI, and India’s largest integrated manufacturer and exporter of alumina and aluminium, has reported results for the Financial Year 2020-21.

According to the audited financial results, taken on record in the Board of Directors meeting held today at Bhubaneswar, NALCO has posted an impressive net turnover and net profit of Rs.8869.29 crore and Rs.1299.56 crore respectively in FY20-21 compared to Rs.8425.75 crore and Rs.138.23 crore achieved during the previous year. The net profit of the company for the financial year 2020-21 has jumped by 840% over the last financial year. The results were driven by a strong operational performance by units, with effective sales strategy, cost-saving measures, supported by favorable LME prices.

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 export of 1.92 lakh tonnes of Aluminium metal in 2020-21, 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 and 4.18 lakh tonnes of Aluminium metal.

Attributing the success to the teamwork and dedication of the employees, Shri Sridhar Patra, CMD, NALCO, said that the company had made exemplary contributions in promoting and putting focus on plant, production, productivity, and people. “After the peak period of COVID19 outbreak and with the opening of the markets, we witnessed a significant recovery in the second half of the financial year of 2020-21. With further easing of restrictions and resumption of economic activities, we are optimistic for a robust growth in the long run with our focus on increasing the production in mining and refining segments and opening up of the new coal blocks,” he said.

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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