Odisha-Based Nalco’s Net Profit Jumps By 600% In Q2 FY 2021-22

Bhubaneswar: National Aluminium Company Limited (Nalco) registered a net profit of Rs 748 crore in second quarter of 21-22 financial year, posting a jump of 600% over Rs 107 crore achieved during corresponding period of last year.

With the net profit rising to Rs 1095 crore at half-yearly stage, marking a jump of 783% over Rs 124 crore of the corresponding period of the previous year, the company has scripted its strongest performance in a decade, according to a release.

During the quarter, the total income from operations was Rs 3592 crore, registering 51% growth over Q2 of FY 20-21, which was Rs 2375 crore.

On production front, Nalco registered higher production in the 2nd quarter quarter of FY 2021-22 on all fronts including bauxite production, alumina hydrate production and aluminium cast metal production. The Odisha-based company achieved bauxite production of 18.88 lakh tonne, alumina hydrate of 5.30 lakh tonne and metal of 1.14 lakh tonne, compared to 17.04 lakh tonne, 4.87 lakh tonne and 1.06 lakh tonne respectively achieved in Q2 FY 20-21.

The company also clocked strong growth in dales during the quarter, registering total metal sales of 1.26 lakh tonne of aluminium compared to 0.91 lakh tonne in preceding quarter.

On the company’s performance, Sridhar Patra, CMD, NALCO said, “I compliment the employees of Nalco for coming back strongly in the aftermath of the COVID pandemic, to deliver strong growth in profits and production. Dedicated efforts of employees in maximising production has helped Nalco take advantage of the favourable market conditions.’’