NALCO registers net profit of Rs. 107 crore in 2nd Qtr of FY21
Bhubaneswar, 11.11.2020: Despite the challenging business environment, National Aluminium Company Limited (NALCO) registered a net profit of Rs. 107.45 crore in Q2 of FY21. During the quarter, the revenue from operations have been Rs. 2375 crore, registering 72% growth over Q1 of FY21. In the first quarter of FY21, revenue from operations was Rs 1381 crore.
On half-yearly basis, the Company has registered a net profit of Rs. 124 crore as against Rs.70 crore for the corresponding period of previous year.
On production front, the Company achieved Bauxite production of 17.04 lakh tonnes and Alumina hydrate production of 4.87 lakh tonnes while metal production was 1.06 lakh tonnes during the quarter.
During the quarter, the leading manufacturer and exporter of alumina and aluminium in the country, achieved strong growth in export, registering sales of 58,574 metric tonnes (MT) of aluminium compared to 16,305 MT in corresponding period last year. The total alumina sales during the 2nd quarter was 285,718 MT.
During the H1 FY21, the Company achieved 3-fold jump with export of 93730 MT in Aluminium compared to 30561 MT in the corresponding period last year.
Commenting on the performance of the Company, Shri Sridhar Patra, CMD, NALCO said, “The year began with unforeseeable challenges, which has affected the entire world. NALCO collective rose to the challenge and braved all odds to overcome the sluggishness in the market and get the business operations back on track amidst the pandemic. The Company is geared up to take all necessary actions to remain competitive, deliver world-class products to our customers and contribute towards building an Atmanirbhar Bharat.”