NALCO record a higher profit in FY21

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New Delhi: During the Board of Directors meeting, Navratna CPSE NALCO under the Ministry of Mines has reported a high record of Rs 1299.53 crore for the FY21.

As per the audit taken, NALCO’s Net Turnover has improved to Rs. 8869.29 crore in FY21 against Rs. 8425.75 crore in the previous year, while the Net Profit for FY21 has jumped by 840% to Rs. 1299.53 crore compared to Rs. 138 crores in FY20. The results were driven by strategic decisions on procurement, sales & marketing, favorable LME prices and augmented by a strong operational performance by units despite restricted manpower deployment due to COVID guidelines.

During the year 2020-21, NALCO has achieved the highest ever production of bauxite at 73.65 lakh tonnes. Similarly, the Company also achieved the highest-ever Aluminium metal export of 1.92 lakh tonnes, surpassing the decade-old record of 1.46 lakh tonnes achieved in 2009-10. Further, the Company gained the production of 20.85 lakh tonnes of alumina hydrate in the Refinery in Damanjodi and 4.18 lakh tonnes of Aluminium metal from Smelter plant in Angul, Odisha.

Shri Alok Tandon, Secretary to Govt. of India, Ministry of Mines has congratulated the NALCO collective and Board of Directors for the impressive results. Also’ NALCO Management was praised further, which is led by Shri Sridhar Patra, CMD. Sridhar expects NALCO to take up momentum in terms of growth for upcoming years.