NALCO posts net profit of INR138.23 crore for FY19-20; Aluminium production stands at 4.18 lakh tonnes
National Aluminium Company Limited (NALCO), recorded a Net Profit of INR 138.23 crore for FY19-20. Net turnover stood at INR 8426 crore, which has been adversely impacted by about INR2900 crore due to fall in global metal prices.
However, weathering the sluggishness in the international metal market and falling London Metal Exchange prices, NALCO has continued to remain profitable by successfully handling the market downturn, according to the company.
The company achieved bauxite production and alumina production of 73.02 lakh tonnes and 21.61 lakh tonnes, the highest ever since company's inception. NALCO said both bauxite mines & alumina refinery has been performing beyond its installed capacity.
The Aluminium metal production came in at 4.18 lakh tonnes.
Shri Sridhar Patra, CMD, NALCO said: "We are optimistic that in the long run with our focus on increasing the production in mining and refining segments, opening up of the new coal blocks, backward integration in supply of key raw materials like caustic soda, we shall be able to tide over present economic crisis.
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