National Aluminum Company Limited (Nalco) reported a more than seven-fold increase in second quarter net profit from ₹107 crore a year ago to ₹748 crore.
“This is one of the strongest performances in a decade, with its net profit increasing half-yearly to ₹1,095 crore,” the company said in a statement. The profit in the first half of the last financial year was ₹124 crore.
Total income from operations grew 51% to ₹3,592 crore in the three months ended September from ₹2,375 crore in Q2 of 2020-21.
CMD Sridhar Patra said, “I congratulate the employees… for making a strong comeback post the COVID pandemic, delivering strong growth in profits and production.”
NALCO registered higher production in Q2 on all fronts – Bauxite, Alumina Hydrate and Aluminum Cast Metal.
“During the second quarter, the company achieved bauxite production of 18.88 lakh tonnes, alumina hydrate production of 5.30 lakh tonnes and metal production of 1.14 lakh tonnes as against 17.04 lakh tonnes, 4.87 lakh tonnes and 1.06 lakh tonnes respectively,” the company said. . said.
The state-owned firm also saw strong growth in sales of the metal. Aluminum sales rose to 1.26 lakh metric tonnes (MT), from 0.91 lakh metric tonnes in the “previous quarter”.
“Total alumina sales during Q2 registered a strong growth of 11% with achievement of 3.18 lakh MT,” it said.
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