NALCO’s net profit jumps 840%

July 8 Sridhar Patra CMD NALCO (2)

   National Aluminium Company Limited (NALCO), the Navratna CPSE, under the Ministry of Mines, recently reported results for the Financial Year 2020-21.

    According to the audited financial results, NALCO’s Net Turnover improved to Rs. 8869.29 crore in FY21 against Rs. 8425.75 crore in previous year, while the Net Profit for FY21 jumped by 840% to Rs. 1299.53 crore compared to Rs. 138 crore in FY20.

Highest ever Bauxite production at 73.65 lakh tonnes

The results were driven by strategic decisions on procurement, sales & marketing, favourable LME prices and augmented by strong operational performance by units despite restricted manpower deployment due to COVID guidelines stated an official release from the ministry of mines.

  During the year 2020-21, NALCO achieved the highest ever production of bauxite at 73.65 lakh tonnes. Similarly, the Company also achieved the highest-ever Aluminium metal export of 1.92 lakh tonnes, surpassing the decade old record of 1.46 lakh tonnes achieved in 2009-10.

   The release further, stated that the company also achieved production of 20.85 lakh tonnes of alumina hydrate in Refinery in Damanjodi and 4.18 lakh tonnes of Aluminium metal from Smelter plant in Angul.

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