NALCO books nine-fold leap in Q4 profit INR to 935.74 crore

On 28th June 2021, National Aluminium Co Ltd (Nalco), one of the largest integrated primary producers of aluminium in Asia has reported a nine-fold leap in consolidated profit at INR 935.74 crore for the quarter ended 31st March 2021, powered by strong operational performance and favourable prices.

While filing to BSE, Nalco said: “The Company had posted a consolidated profit of INR 100.51 crore in the year-ago period.”

The company owned by the Ministry of Mines, Government of India, Nalco’s consolidated income rose to INR 2,874.47 crore when compared to INR 2,042.27 crore in the year-ago period.

Sridhar Patra, CMD, Nalco said: "After the peak period of COVID-19 outbreak and with the opening of the markets, we witnessed a significant recovery in the second half of the financial year of 2020-21.”

"With further easing of restrictions and resumption of economic activities, we are optimistic for a robust growth in the long run with our focus on increasing the production in mining and refining segments and opening up of the new coal blocks.”

The CMD, while accrediting to the teamwork and dedication of the employees, said: “The Company has made exemplary contributions in promoting and putting the focus on plant, production, productivity and people.”

The aluminium company further added: “The results were driven by a strong operational performance by units, with effective sales strategy, cost-saving measures, supported by favourable LME price.”