NALCO Q1 FY 21-22 net profit jumps from Rs 17cr to Rs 348cr
National Aluminium Company Limited (NALCO) has reported a net profit of INR 347.73 crores for the first quarter of the financial year 2021-22 (Q1 FY 21-22), compared to INR 16.63 crores of net profit in the same period of the previous financial year 2020-21.
The Indian government-owned alumina and aluminium manufacturer reported revenue from operations of INR 2,474.55 crores for the quarter ended 30 June. This marks a 79.2% increase compared to an operational revenue of INR 1,380.63 crores earned in the corresponding quarter of the previous year. NALCO attributed the increased revenue to strong demand, increased volumes, better realization, and effective utilization of capacity of its operational units.
For the reported quarter, NALCO produced 17.61 lakh tonnes of Bauxite, 5.21 lakh tonnes of alumina and 1.14 lakh tonnes of Aluminium. This is in comparison to 17.10 lakh tonnes, 4.65 lakh tonnes and 0.98 lakh tonnes, respectively in Q1 FY 20-21.
NALCO Q1 FY 21-22 net profit jumps from Rs 17cr to Rs 348cr. Photo courtesy of NALCO India.
Commenting on NALCO Q1 FY 21-22 results, Sridhar Patra — CMD of NALCO said: “In spite of the challenges imposed due to COVID 19 pandemic, NALCO through strategic planning of raw materials, manpower and marketing initiatives, coupled with continued focus on cost optimization, has been able to steer towards organizational success.”
In June 2021, NALCO announced that its net turnover and net profit for the financial year 2020-21 was INR 8,869.29 crores and INR 1299.56 crores, respectively.