Q3 will remain good for aluminium business; the company will also have profit: Chairman and MD, NALCO

The Indian state-owned National Aluminium Company Limited (NALCO), posted its Q2 earnings which thumped evaluation on all parameters and the Navratna group ‘A’ CPSE company’s aluminium EBIT has well performed this quarter.

Sridhar Patra, Chairman and MD of NALCO, while commenting on the company’s Q2 results said: “Q3 will continue to be good for aluminium business. The company will also have a profit.”

“Till H1 results the company is EBITDA positive. Manpower deployment due to COVID-19 has forced the company to scale down the production. However, company management is confident that the situation is normalising. We are hopeful, we are operating above 100% of our capacity,” he added.

“The company has received all the statutory clearances for Utkal D coal mine. We are quite hopeful that the lease agreement will be signed and we will put all the efforts to make Utkal D operational this year. We are hopeful that within a year to a year and a half we will make Utkal E also operational.”

“At present, the coal mine charges that Coal India is giving are comparatively lesser because of the sluggish market,” he further added.