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NALCO's net profit jumps by 600% in Q2 FY22 year-on-year

NALCO has registered a net profit of Rs 748 crore for Q2 FY22, posting a jump of 600 percent over Rs 107 crore achieved during the corresponding period of last year
NALCO's net profit jumps by 600% in Q2 FY22 year-on-year
NALCO's net profit jumps by 600% in Q2 FY22 year-on-year

New Delhi: National Aluminium Company Limited (NALCO) has registered a net profit of Rs 748 crore for Q2 FY22, posting a jump of 600 percent over Rs 107 crore achieved during the corresponding period of last year. This is one of the strongest performances registered by NALCO in a decade, with net profit soaring Rs 1,095 crore on half-yearly basis. The net profit has soared by 783 percent to Rs 1,095 crore in H1 of FY22, as against Rs 124 crore for the corresponding period of the previous year.

During the quarter, the total income from operations is Rs 3,592 crore, registering 51 percent growth over Q2 of FY21, which was Rs 2,375 crore.

On the production front, NALCO has registered higher production in the 2nd quarter of FY22 on all fronts, ie bauxite production, alumina hydrate production and aluminium cast metal production. In Q2 FY22, the PSU has 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 FY21.

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 the preceding quarter. The total alumina sales during the 2nd quarter registered a strong growth of 11 percent as 3.18 lakh MT of alumina was sold as compared to 2.86 lakh MT sold in the corresponding period of the last year.

Commenting on the impressive performance of the company, NALCO CMD Sridhar Patra said, “I compliment the employees of NALCO for coming back strongly in the aftermath of the COVID-19 pandemic, to deliver strong growth in profits and production. The dedicated efforts of employees in maximising production has helped NALCO to take advantage of the favourable market conditions.’’

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