Nalco posts seven-fold upswing in profit to INR 747 crore in Q2
On 12th November 2021, the Indian state-owned company having integrated and diversified operations in mining, metal and power under the ownership of the Ministry of Mines, National Aluminium Co Ltd (Nalco) reported a nearly seven-fold upswing in consolidated profit at INR 747.80 crore for the quarter ended 30th September 2021.
The Navratna CPSE under Ministry of Mines, Nalco stated during a BSE filing: “The Company had posted a consolidated profit of INR 107.27 crore in the year-ago period.”
The filing revealed: “The consolidated income of the company during the July-September quarter increased to INR 3,634.59 crore over INR 2,399.05 crore in the year-ago period.”
Nalco’s net profit leapt by 597.12% to INR 747.80 crore in the quarter ended September 2021 as against INR 107.27 crore during the previous quarter ended September 2020.
However, the aluminium company's sales jumped by 51.26% to INR 3592.18 crore in the quarter ended September 2021 as against INR 2374.89 crore during the prior quarter ended September 2020.
LME aluminium price ends the week higher at US$2676/t; SHFE price surges by US$71/t to exceed US$3000/t
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