NALCO Clocks 123% Growth In Net Profit In Q3 Of FY21

Bhubaneswar: National Aluminium Company Limited (NALCO) clocked a net profit of Rs 240 crore for the third quarter ended December 2020 with the net profit making a jump of 123% over the previous quarter of current fiscal which was Rs 107 crore.

The net profit of the the Navratna PSU for nine months ended December 2020 has registered more than 10-fold increase to Rs 364 crore as against Rs 35 crore in corresponding period of the last year. The total income in Q3 of FY21 witnessed substantial growth, clocking Rs 2,415 crore compared to Rs 2,137 crore in Q3 of FY20, according to a press release.

The country’s leading manufacturer and exporter of aluminium registered the net sales of 3.44 lakh tonne of alumina hydrate for Q3 of FY21 compared to 3.33 lakh tonne in the corresponding period of last year. Aluminium export also made impressive growth with sales volume of 1.38 lakh tonne during first nine months of FY21 compared to 0.50 lakh tonne during the same period of FY20.

On production front, the company achieved strong growth in Q3 of FY21, with bauxite production of 19.34 lakh tonne, alumina hydrate of 5.55 lakh tonne and metal production of 1.02 lakh tonne.

Sridhar Patra, CMD, NALCO, said NALCO has shown overall growth and resilience to script a turnaround after the peak period of COVID-19 outbreak. The employees and workers delivered when it mattered under challenging circumstances. The company is geared up to meet the increase in demand with the gradual opening up of the market and the economy, he added.