Home » Aluminium » Impressive back-to-back profits pushes NALCO’sNet Profit to Rs.1095cr at half-yearlymark, Net Profit of Q2 FY 21-22 jumps by 600% over Q2 of last year

Impressive back-to-back profits pushes NALCO’sNet Profit to Rs.1095cr at half-yearlymark, Net Profit of Q2 FY 21-22 jumps by 600% over Q2 of last year

National Aluminium Company Limited (NALCO) registered a handsome rise in net profit for Q2 FY 21-22 at Rs 748 crore,posting a jump of 600% over Rs 107 crore achieved during corresponding period of last year. This is one of the strongest performance in a decade, with Net Profit soaring to Rs.1095 crore at half-yearly stage. The net profit has soared by 783% to Rs.1095 crore, as against Rs.124 crore for the corresponding period of previous year.

During the quarter, the total income from operations is Rs.3592 crore, registering 51% growth over Q2 of FY20-21, which was Rs.2375 crore.

On production front, the Company registered higher production in 2nd quarter of FY 21-22 on all fronts, i.e. bauxite production, alumina hydrate production and aluminium cast metal production. During the Q2 FY 21-22, the Company achieved bauxite production of 18.88 lakh tonnes, alumina hydrate production of 5.30 lakh tonnes and metal production of 1.14 lakh tonnes, compared to 17.04 lakh tonnes, 4.87 lakh tonnes and 1.06 lakh tonnes respectively achieved in Q2 FY20-21.

During the quarter, the Company has clocked strong growth in Sales, registering total metal sales of 1.26 lakh metric tonnes (MT) of aluminium compared to 0.91 lakh MT in preceding quarter. The total alumina sales during the 2nd quarter registered strong growth of11% with achievement of 3.18 lakh MT compared to 2.86 lakh MT of corresponding period of last year.

Commenting on the impressive performance of the Company, Shri Sridhar Patra, CMD, NALCO said, “I compliment the employees of NALCOfor coming back strongly in the aftermath of the Covid pandemic, to deliver strong growth in profits and production. Dedicated efforts of employees in maximizing production has helped NALCO to take advantage of the favourable market conditions.’’

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

DoT initiates Spectrum Auction to augment the existing telecom services and maintain continuity of services Issues Notice Inviting Applications today to this effect

Department of Telecom (DoT) has initiated the Spectrum Auction to augment the existing telecom services ...

CIL Achieves Record Coal Production of 703.91 MT up to 7th March 2024

The Coal India Limited (CIL) has achieved a record production of 703.91 million tonnes (MT) ...

ChipIN, the one-stop centre for chip designers across the country, gets fillip with support from semiconductor industry leaders

“This is a huge opportunity for current and budding entrepreneurs from Trivandrum and Kerala, to ...

Make in India not only for India but for the world: Power and New & Renewable Energy Minister Shri R. K. Singh exhorts manufacturing industry

The Union Minister for Power and New & Renewable Energy Shri R. K. Singh has ...

Measures by Government shall lead to three-fold increase in Natural Gas consumption by 2030: Petroleum Minister Hardeep S Puri

In a significant stride towards achieving 100% coverage of country’s area for the development of ...

Historical Coal Production growth: Cheaper and Assured Availability

Our country is endowed with 5th largest geological reserves of coal.  We are 2nd largest consumers of ...

Coal Production and Dispatch from Captive and Commercial Mines Goes up by 27% and 29% respectively during Current Fiscal upto February 2024

There is month on month (m-o-m) and year-on-year (yoy) increase in coal production and dispatch ...

Shri Dharmendra Pradhan launches Project ODISERV

Union Minister of Education and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan, launched Project ODISERV ...

Indian Railways achieve 1434.03 MT freight loading till February, 2024

On cumulative basis from April 2023 – February 2024, freight loading of 1434.01 MT was ...

Government amends Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 to ensure optimum utilization of available power generating capacity

The Government of India has amended the Electricity (Late Payment Surcharge and Related Matters) Rules of ...

WP2Social Auto Publish Powered By : XYZScripts.com