Nalco Q4 profit rises nine-fold to Rs 936 crore helped by strong functional performance, beneficial LME prices

The consolidated earnings of the company increased to Rs 2,874.47 crore, compared to Rs 2,042.27 crore in the year-ago period.

PTI

June 28, 2021/ 10:45 PM IST

Earnings

National Aluminium Co Ltd (Nalco) on Monday reported a nine-fold increase in combined revenue at Rs 935.74 crore for the quarter ended March 31, 2021, assisted by strong functional performance and beneficial costs.

The company had actually posted a combined revenue of Rs 100.51 crore in the year-ago period, Nalco stated in a filing to BSE.

The consolidated income of the business increased to Rs 2,874.47 crore, compared to Rs 2,042.27 crore in the year-ago duration.

“After the peak duration of COVID-19 break out and with the opening of the marketplaces, we saw a considerable recovery in the 2nd half of the fiscal year of 2020-21.

“With further easing of restrictions and resumption of economic activities, we are positive for a robust growth in the long run with our focus on increasing the production in mining and refining sections and opening of the new coal blocks,” Nalco CMD Sridhar Patra stated.

Attributing the success to the teamwork and dedication of the employees, Patra said the business has actually made exemplary contributions in promoting and putting focus on plant, production, performance and people.

The results were driven by strong operational efficiency by systems, with efficient sales method, cost saving steps, supported by favourable LME price, the business said.

Nalco, a ‘Navratna’ CPSE under the Ministry of Mines, is the biggest integrated maker and exporter of alumina and aluminium.

Published at Mon, 28 Jun 2021 17:15:16 +0000