NALCO’s Q4 net profit almost doubles to Rs 1016 crore
New Delhi: National Aluminium Company Limited (NALCO) has continued its robust growth trajectory in production and sales during the financial Year 2023-24.
According to the financial results, taken on record in the Board of Directors meeting held on Monday, NALCO has posted a net profit at Rs 2060 crore registering a robust increase of 34 percent year-on-year (YoY). Beating market expectations, the company has also recorded an impressive revenue from operations at Rs 13149 crore for the FY 2023-24.
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The net profit for the fourth quarter ended March 2024 registered multi-fold increase at Rs 1,016 crore against Rs.522 crore which is about 95 percent higher as compared to the year-ago period.
Worth mentioning that despite weak prices of metals, market volatility and geopolitical crosswinds, NALCO has been able to register considerable growth in several fronts and profit margins in FY 2023-24. The company has been able to continue its growth trajectory supported by robust growth across all its business units.
In FY 2023-24, the company achieved highest-ever bauxite excavation of 76,00,230 metric tonnes, highest-ever cast metal production of 4,63,428 metric tonnes, highest-ever metal sale of 4,70,108 metric tonnes and production of 2 million tonnes of coal in the very first year of operationalization of its coal mines.
Appreciating the performance of the company, NALCO CMD Sridhar Patra said that the company’s growth accelerated in Q4 of FY 2023-24 and the same is reflected in strong performance and considerable revenue growth. Attributing the success to the commitment and support of employees and various stakeholders, Patra further pinned hope that with further firming up of the aluminium prices and increase in aluminium demand, NALCO is all set to continue the growth story in future.
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