NALCO books highest ever profit of INR 2,952 crore in FY2022 on nameplate aluminium output and soaring prices

On Wednesday, May 25, National Aluminium Company Limited (NALCO), the Navratna CPSE, announced its fiscal report for 2021-22, revealing robust performances and surpass of several milestones. The company said in a regulatory filing that it achieved the best ever annual production and sales during FY2022 and therefore earned highest revenue from operations and highest net profit of INR 14,181 crore and INR 2,952 crore, respectively.

Soaring aluminium prices and uptick in global demand led to this multi-fold increase in turnover and consequent profit that soared by 227 per cent year-on-year.

For the last quarter ended March 31, the company reported a consolidated profit of INR 1,025.46 crore, an increase of 9.5 per cent from INR 935.74 crore during the corresponding period of the previous year.

NALCO’s consolidated income for 4QFY2022 also increased to INR 4,492.10 crore as against INR 2,874.47 crore a year ago, showed the filing.

The company under the ministry of mines produced aluminium at its nameplate capacity of 4.60 lakh tonnes for the first time since inception, breaking all the historical records. Its bauxite production was also reported robust at 75.11 lakh tones from the captive bauxite mines.

According to Sridhar Patra, CMD, NALCO, strong operational performance coupled with effective raw material procurement and sales strategy also contributed to the robust fiscal result. He thanked the senior management team, all employees, unions and associations and all stakeholders for the unstinted support.