Nalco’s Q3 profit excels over three times to INR 831 crore

The Indian state-owned National Aluminium Company (NALCO) has reported that its consolidated net profit excelled from 246.53% to INR 830.67 crore on an up-rise of 58.62% in net sales to INR 3773.26 crore in Q3 December 2021 in comparison to Q3 December 2020.

The Profit before tax elevated 271.47% to INR 1,108.94 crore in Q3 December 2021 as against INR 298.53 crore in Q3 December 2020.

Nalco’s outstanding results were streamed by sustained supply of raw material, optimized production, strategic power sourcing especially during the phase of coal crisis, better realization and effective capacity utilization of its operational units.

The report revealed that total expenses leapt 29.29% to INR 2,736.12 crore with the cost of materials consumed surging 60.48% to INR 513.85 crore during the period under review, while on the other side, power, fuel and other utility expense grew 32.22% YoY to INR 871.81 crore in Q3 December 2021.

The integrated aluminium company during the nine months of the current fiscal attainted production of 55.03 lakh tonne bauxite compared to 53.48 lakh tonne during the corresponding period of FY21, and alumina production reached 15.41 lakh tonnes, against 15.07 lakh tonnes of the previous fiscal.

The production of aluminium also registered improvement with full capacity utilization of the smelter plant at 3.43 lakh tonnes produced in the first nine-month ending December 2021, against 3.06 lakh tonnes of FY21.

During this phase, Nalco added a new feather to its crown by achieving a significant milestone of functioning 960 pots in its smelter, which is a history of attaining 100% capacity utilization.

Sridhar Patra, the CMD of Nalco accredited the success to the hard work done by the employees during difficult times and praised them for their activity by saying, "The robust growth and all-round performance on production and financial parameters are testimony to the hard work and commitment of the employees and strategic focus on Production, People, and Projects.”

“The strategic growth-oriented roadmap and the relentless quest displayed by the employees to travel the extra mile in these challenging times is praiseworthy," Patra said.