NALCO net profit rises by 123% to Rs 240 crore in Q3 of FY21

Bhubaneswar: National Aluminium Company Limited (NALCO) has clocked a net profit of Rs 240 crores for the 3rd quarter (Q3 FY21) ended on December 31, 2020. The net profit has jumped by 123 percent over the previous quarter of the current 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 the corresponding period of last year. The total income in Q3 of FY21 witnessed substantial growth, clocking Rs 2,415 crores compared to Rs 2,137 crores in Q3 of FY20.

On the sales front, the net sales of alumina hydrate for Q3 of FY21 was 3.44 lakh tonnes compared to 3.33 lakh tonnes achieved in the corresponding period of last year. Aluminium export also registered impressive growth, with a sales volume of 1.38 lakh tonnes during the first nine months of FY21 as compared to 0.50 lakh tonnes during the same period of FY20.

On the production front, the company has achieved strong growth in Q3 of FY21, with Bauxite production of 19.34 lakh tonnes, Alumina hydrate production of 5.55 lakh tonnes while metal production achieved was 1.02 lakh tonnes.

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During the first nine months of the current fiscal, NALCO achieved production of 53.48 lakh tonnes of bauxite, 15.07 lakh tonnes of alumina hydrate while metal production was 3.06 lakh tonnes.

Commenting on this, NALCO's CMD Sridhar Patra said, ''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, viz. Utkal-D Coal block, 5th stream alumina refinery & caustic soda JV projects etc., which will substantially bolster the bottom line of the company.'' 

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