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13 FEBRUARY 2021 AL CIRCLE

NALCO posts INR 240 crore profit for Q3FY21

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

On 12th February 2021, the National Aluminium Company Limited (NALCO) posted a consolidated profit of INR 239.71 crore for the third quarter (Q3FY21) ended 31st December’20. The Navratna PSU, under Ministry of Mines, Government of India producing alumina and aluminium, had posted a consolidated loss of INR 33.90 crore in the corresponding quarter previous year. Subsequently, the alumina manufacturer has posted a profit of INR 107.27 crore.

NALCO records INR 240 crore profit for Q3FY21

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The company's consolidated revenue from operations rose 13.9% to INR 2,378.79 crore in the quarter under consideration compared to INR 2,088.35 crore in Q3FY20.

However, the net sales of alumina hydrate for Q3 of FY21 was 3.44 lakh tonnes compared to 3.33 lakh tonnes achieved in the corresponding period of the previous year. Aluminium export also registered impressive growth, with a sales volume of 1.38 lakh tonnes during the first nine months of FY21 as compared to 0.50 lakh tonnes during the same period of FY20.

While on the production front, Nalco made a strong growth in Q3 of FY21, with Bauxite production of 19.34 lakh tonnes, Alumina hydrate production of 5.55 lakh tonnes while metal production achieved was 1.02 lakh tonnes.

Report on Global Aluminium Industry Outlook 2021

NALCO’s bauxite production reached 53.48 lakh tonnes, alumina hydrate production went up to 15.07 lakh tonnes and the metal aluminium production recorded at 3.06 lakh tonnes during the first nine months of the current fiscal.

Sridhar Patra, CMD, NALCO, said: ''NALCO has shown overall growth and resilience to script a turnaround after the peak period of COVID19 outbreak. The employees and workers delivered when it mattered under challenging circumstances. The Company is geared up to meet the increase in demand with the gradual opening up of the market and the economy. The Company is also focused on operationalizing the ongoing projects, viz. Utkal-D Coal block, 5th Stream Alumina Refinery & Caustic Soda JV projects etc., which will substantially bolster the bottom line of the Company.''

 

 

 


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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