NALCO Registers Nine-Fold Increase In Net Profit For FY 2020-21 Of Bhubaneswar Company

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India’s largest integrated manufacturer and exporter of alumina and aluminium- National Aluminium Company Limited (NALCO) reported a nine-fold increase in net profit for the Financial Year 2020-21.

As per the audited financial results, recorded at the Board of Directors’ meeting in Bhubaneswar, the Navratna CPSE under the Union Ministry of Mines NALCO posted a remarkable net turnover and net profit of Rs 8869.29 crore and Rs 1299.56 crore, respectively, in FY20-21 as compared to Rs 8425.75 crore and Rs 138.23 crore during the previous year.

According to the reports, the amount is around 840% leap in the net profit of the Bhubaneswar headquartered company. In 2020-21 NALCO managed to achieve the highest production of bauxite at 73.65 Lakh tonnes.

Likewise, the company also achieved the maximum quantity of export of 1.92 lakh tonnes of aluminium metal during the year, surpassing the record of 1.46 lakh tonnes achieved in 2009-10. The company also produced 20.85 lakh tonnes of alumina hydrate and 4.18 lakh tonnes of aluminium metal.

NALCO CMD Sridhar Patra thanked all the employees and dedicated this success to the hard work of the employees and the teamwork. He said- “After the peak period of COVID-19 outbreak and with the opening of markets, we witnessed a significant recovery in the second half of the financial year 2020-21. With further easing of restrictions and resumption of economic activities, we are optimistic for 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.”

Image Source – Google

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