National Aluminium Company (Nalco), the Navratna PSU, below Ministry of Mines, Govt. of India and country’s major manufacturer and exporter of alumina and aluminium, clocked a net profit of Rs 240crores for the 3rd quarter ended December 2020. The net profit has jumped by 123 % more than the prior quarter of existing fiscal, which was Rs 107 crore.
The net profit for the nine months ended December 2020 has grown more than ten-fold to Rs 364 crore as against Rs 35 crore in corresponding period of final year. The total earnings in Q3 of FY21 witnessed substantial development, clocking Rs 2,415crores compared to Rs.2,137 crores in Q3 of FY20.
On sales front, the net sales of alumina hydrate for Q3 of FY21 was 3.44 lakh tonnes compared to 3.33 lakh tonnes accomplished in the corresponding period of final year. Aluminium export also registered impressive development, with sales volume of 1.38 lakh tonnes through the initially nine months of FY21 as compared to .50 lakh tonnes through the very same period of FY20.
On production front, the Company accomplished robust development in Q3 of FY21, with Bauxite production of 19.34 lakh tonnes, Alumina hydrate production of 5.55 lakh tonnes when metal production accomplished was 1.02 lakh tonnes.
During the initially nine months of the existing fiscal, Nalco accomplished production of 53.48 lakh tonnes of bauxite, 15.07 lakh tonnes of alumina hydrate when metal production was 3.06 lakh tonnes.
“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. The Company is also focused on operationalising the ongoing projects, like Utkal-D Coal block, 5th Stream Alumina Refinery & Caustic Soda JV projects etc., which will substantially bolster the bottom line of the company,” says Sridhar Patra, CMD, NALCO.