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NALCO Kick-starts FY 21-22 on a Strong Footing: Beats Market Expectations

in Business, State News August 7, 2021 Comments Off on NALCO Kick-starts FY 21-22 on a Strong Footing: Beats Market Expectations 509 Views

Q1 Net Profit Zooms to Rs. 347.73 cr with Sales Revenue up by 79.2%

Bhubaneswar, 06.08.2021: National Aluminium Company Limited (NALCO), the Navratna CPSE under Ministry of Mines, Govt. of India and country’s leading producer and exporter of alumina and aluminum has kick-started the financial year 2021-22 with robust financial and physical performances. The company has reported impressive results in the 1st quarter ended June 30. The net profit has jumped to Rs.347.73 crore from Rs.16.63 crore achieved in the corresponding period of the previous year. Beating market expectations, amidst a challenging business environment, the company has demonstrated robust performance across all its business segments.

According to the results taken on record at a meeting of the Board of Directors in Bhubaneswar today, the company has reported revenue from operations of Rs.2474.55 crore, an increase of 79.2% compared to Rs.1380.63 crore achieved in the corresponding quarter of the previous year. This is mainly propelled by strong demand, higher volumes, better realization, and effective capacity utilization of its operational units.

On the production front, NALCO has put up an impressive performance. During the quarter, the production of Bauxite, Alumina, and Aluminium have been 17.61 Lakh Tonnes, 5.21 Lakh Tonnes, and 1.14 Lakh Tonnes respectively, compared to 17.10 Lakh Tonnes, 4.65 Lakh Tonnes and 0.98 Lakh Tonnes respectively in the comparative period of the last fiscal.

Shri Sridhar Patra, CMD, NALCO, attributed the company’s impressive results to the collective and dedicated teamwork of the employees. “In spite of the challenges imposed due to COVID 19 pandemic, NALCO through strategic planning of raw materials, manpower and marketing initiatives, coupled with a continued focus on cost optimization, has been able to steer towards organizational success,” he said. Shri Sridhar Patra has also conveyed his thankfulness to the Ministry of Mines, Govt. of India and the State Government for the unstinted support extended to the organization.

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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