Nine month net profit up 171%, reports NALCO
National Aluminium Company Limited (NALCO) is vigorously pursuing its projects including a 1,320 MW Greenfield Thermal Power Plant in Odisha.
Its other projects includes: addition of 0.5 MTPA capacity to its existing Smelter;
1 MTPA capacity in its Alumina Refinery;
Development of Utkal D&E Coal Blocks, Development of Pottangi Bauxite Mines, Angul Aluminium Park;
2.7 Lakh TPA Caustic Soda Plant in JV with GACL;
Coal Tar Distillation Plant in JV with NINL.
It is also pursuing overseas acquisition, exploration & processing of strategic minerals through Khanij Bidesh India Ltd (KABIL), a Joint Venture Company of NALCO, HCL & MECL and High end Aluminium Alloy Plant in Joint Venture with MIDHANI.
This was confirmed on 10 Feb 2018 as NALCO said its nine-month net profit surged by 171% from Rs.400 crore last year to Rs.1,085 crore as end of December 2017.
Metal production was 3.17 lakh tonnes, up 11% on 2.86 lakh tonnes during the comparable nine months of the previous fiscal year.
Net power generated increased by 9% to 4,897 million units from 4,494 million units achieved in the corresponding nine-month period of the previous year.
As a committed and responsible green power producer, the company has generated 211 million units of wind power during the nine months.
Operational efficiency, cost reduction, strategic management decisions and team work of NALCO played a key role in achieving the record profit.
“With robust monetary policy of the Government and demand-supply dynamics brightening, aided by growth in the construction and power sectors, pick-up in the automobile segment as well as firming up of aluminium prices globally, we hope to post similar results in the next mandate,” said Dr. Tapan Kumar Chand, CMD, NALCO.
The company has recently released its ‘Corporate Plan – 2032’ wherein it envisages to reach a turnover of Rs.18,171 crore by 2024 and Rs.31,248 crore by 2032. fii-news.com