New Delhi/Bhubaneswar: Navratna mining PSU National Aluminium Company (NALCO) declared its financial performance for the second quarter (Q2) of the current financial year (FY 2020-21). The company said that during the period it has registered a net profit of Rs 107.45 crore despite the challenging business environment. During the quarter, the revenue from operations has been Rs 2375 crore, registering 72 percent growth over the first quarter (Q1) of FY21. In Q1 of FY 2020-21, revenue from operations was Rs 1,381 crore.
On a half-yearly basis, the company has registered a net profit of Rs 124 crore as against Rs 70 crore for the corresponding period of the previous year.
On the production front, the NALCO has achieved bauxite production of 17.04 lakh tonnes and alumina hydrate production of 4.87 lakh tonnes while metal production was 1.06 lakh tonnes during the quarter.
During the quarter, the leading manufacturer and exporter of alumina and aluminium in the country, achieved strong growth in export, registering sales of 58,574 metric tonnes (MT) of aluminium compared to 16,305 MT in the corresponding period last year. The total alumina sales during the second quarter was 285,718 MT.
During the H1 FY21, the company achieved a 3-fold jump with the export of 93730 MT in Aluminium compared to 30561 MT in the corresponding period last year.
Commenting on the performance of the NALCO's Chairman & Managing Director (CMD) Sridhar Patra said, "The year began with unforeseeable challenges, which has affected the entire world. NALCO collective rose to the challenge and braved all odds to overcome the sluggishness in the market and get the business operations back on track amidst the pandemic. The company is geared up to take all necessary actions to remain competitive, deliver world-class products to our customers and contribute towards building an Atmanirbhar Bharat."
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