Bhubaneswar

Nalco registers 9-fold rise in net profit

PNS

The National Aluminium Company Limited (Nalco) has reported results for the Financial Year 2020-21. According to the audited financial results, taken on record in the Board of Directors meeting held on Monday at Bhubaneswar, the Nalco has posted an impressive net turnover and net profit of Rs 8,869.29 crore and Rs 1,299.56 crore respectively in FY20-21 compared to Rs 8,425.75 crore and Rs 138.23 crore achieved during the previous year. The net profit of the company for the financial year 2020-21 has jumped by 840% over last financial year. The results were driven by strong operational performance by units, with effective sales strategy, cost saving measures, supported by favourable LME price. During year 2020-21, Nalco had achieved highest ever production of bauxite at 73.65 lakh tonnes. Similarly, company also achieved highest-ever export of 1.92 lakh tonnes of aluminium metal in 2020-21, surpassing decade old record of 1.46 lakh tonnes achieved in 2009-10.