New Delhi: Beating market expectations, the Navratna PSU under the Ministry of Mines, National Aluminium Company Limited (NALCO) has reported an impressive Q1 FY 22 result. NALCO net profit has jumped to Rs.347.73 crore from Rs.16.63 crore achieved in the corresponding period of the previous year. "Beating market expectations, amidst challenging business environment, the company has demonstrated robust performance across all its business segments," the company said in an official statement.
NALCO has reported revenue from operations of Rs.2474.55 crore, an increase of 79.2% compared to Rs.1380.63 crore achieved in the corresponding quarter of the previous year. This is mainly propelled by strong demand, higher volumes, better realization and effective capacity utilization of its operational units.
On the production front, the company has put up an impressive performance. During the quarter, the production of Bauxite, Alumina and Aluminium have been 17.61 Lakh Tonnes, 5.21 Lakh Tonnes and 1.14 Lakh Tonnes respectively, compared to 17.10 Lakh Tonnes, 4.65 Lakh Tonnes and 0.98 Lakh Tonnes respectively in the comparative period of the last fiscal.
"In spite of the challenges imposed due to COVID 19 pandemic, NALCO through strategic planning of raw materials, manpower and marketing initiatives, coupled with a continued focus on cost optimization, has been able to steer towards organizational success,” said NALCO CMD Sridhar Patra attributing the company’s impressive results to the teamwork of the employees.
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