The Indian public-sector integrated aluminium company National Aluminium Company Limited (Nalco) has reported significant progress in its production operations for the current fiscal year, achieving 97 per cent of its production capacity target as of August 16.
The company’s GGM(Smelter) and EPO - Executive Director(S&P), S Subrahmanyam NERALLA, confirmed that 940 of the 960 pots at its smelter plant are operational daily, contributing to a total production of 0.17 million tonnes as of August 16, 2024.
Nalco has set an ambitious production target of 0.46 million tonnes of aluminium for this financial year, aiming to replicate last year’s output. At full capacity, the smelter has 960 pots dedicated to aluminium production.
With only a few months remaining in the fiscal year, Nalco is well-positioned to meet its production goals and reinforce its status as a key player in the aluminium industry.
S Subrahmanyam NERALLA stated, "What is important for us is maintaining quality and reducing production costs, particularly by optimising power consumption and other inputs."
"We are currently managing power usage judiciously, importing 30 to 40 MW of power from the state grid."
A few days ago, NALCO reported a substantial 76 per cent increase in its first-quarter (APR-JUN FY25) profit, reflecting the impact of higher aluminium prices and reduced costs.
Considering the point of view of the future, Subrahmanyam is optimistic that aluminium production will increase after the monsoon season, which occurs in September. He also noted that the company has a secure coal stock of 0.35 million tonnes at its captive power plant, sourced from both Mahanadi Coalfields Limited (MCL) and Nalco's two captive coal mines. For the upcoming months, the Executive Director is confident that the company will perform well.
For the quarter ending June 30, the state-owned firm's consolidated profit surged to INR 588.42 crore (approximately $70 million), up from the previous year's figures. In May 2024, NALCO reported a two-fold increase in its Q4 FY24 net profit, soaring by 101.5 per cent year-on-year to INR 996.7 crore. This compares to a net profit of INR 495 crore in the same quarter of the previous financial year.
Responses
