National Aluminium Company Limited (Nalco), a leading CPSE and producer and exporter of alumina and aluminium, posted a profit of ₹347.73 crore for the first quarter ended June 30 against ₹16.63 crore achieved in the corresponding quarter of the previous fiscal.
Beating market expectations, amidst challenging business environment, the company demonstrated robust performance across all its business segments.
The company reported revenue from operations of ₹2474.55 crore, an increase of 79.2 per cent compared to ₹1,380.63 crore achieved in the corresponding quarter of the previous year.
This is mainly propelled by strong demand, higher volumes, better realisation and effective capacity utilisation of its operational units.
On the production front, during the quarter, the production of bauxite, alumina and aluminium have been 17.61 lakh tonnes, 5.21 LT and 1.14 LT respectively, compared to 17.10 LT, 4.65 LT and 0.98 LT respectively in the comparative period of the last fiscal.
Sridhar Patra, CMD, Nalco, in a statement after the Board meet said, “In spite of the challenges due to Covid 19 pandemic, Nalco through strategic planning of raw materials, manpower and marketing initiatives, coupled with continued focus on cost optimisation, has been able to steer towards organisational success.”