NALCO posts 171% growth in net profit -Governance Now

NALCO posts 171% growth in net profit

Net profit for the nine months ended December 2017 works out to Rs 1,085 crore

GN Bureau | February 13, 2018

#NALCO #PSU #aluminium #profit

National Aluminium Company Limited (NALCO), country’s leading manufacturer and exporter of alumina and aluminium, has clocked a record net profit of Rs 722 crore (growth of 207 percent), as against Rs 235 crore in the preceding quarter and Rs 144 crore in the corresponding quarter of the previous fiscal.

The net sales in the 3rd quarter was Rs 2,360 crore. With this, NALCO has broken the highest-ever net profit figures in a quarter during the last ten years.

Similarly, the net profit for the nine months ended December 2017 works out to Rs 1,085 crore (growth of 171 percent), against the corresponding figure of Rs 400 crore for the previous fiscal. The net sales for the nine months of the fiscal are Rs 6,538 crore.

NALCO has also achieved record growth in production in all fronts. During the first nine months of the current fiscal, NALCO achieved production of 54.40 lakh tonnes of bauxite, as compared to 53.23 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 15.51 lakh tonnes of alumina hydrate, against 15.27 lakh tonnes achieved in the corresponding period of the previous financial year.

Metal production was 3.17 lakh tonnes, against 2.86 lakh tonnes during the comparable nine months of the previous fiscal registering a growth of 11 percent. The net power generated during the period was 4,897 million units up by 9 percent, compared to 4,494 million units achieved in the corresponding 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 first 9 months of this fiscal.

Comments

Other News

Retail inflation crosses 6% mark

Retail inflation based on Consumer Price Index for October has reached 6.09%, whereas year-on-year food inflation, based on Consumer Food Price Index, for October is 8.94%, an official release said on Thursday. Year-on-year inflation rate based on All India Consumer Price I

Cabinet approves museum at North-South Block complex

The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, on Wednesday has approved the development of the Yuge Yugeen Bharat Museum (YYBM) at the North and South Block Complex, New Delhi, at an estimated total project cost of ₹3,230 crore, as appraised by the Public Investmen

Cabinet approves extension of Noida metro corridor

The Union Cabinet, chaired by prime minister Narendra Modi, has approved the extension of Aqua Line Metro Rail Corridor from Noida Sector-51 to Greater Noida Sector-04 of Noida Metro Rail Project with corridor for a length of 8.449 km with 5 elevated stations. On operationalization of this corridor, Noid

India reaffirms commitment to climate multilateralism

India has reaffirmed its commitment to climate multilateralism and the principles of Equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC), calling for a fair, equitable and ambitious outcome at the 31st Conference of the Parties (COP31) to the United Nations Framewo

How the mind can help the body heal itself

Why do some people recover from illness against all odds? Can our beliefs, emotions and consciousness influence the body’s ability to heal? Drawing on over three decades of experience in medicine, research and medical innovation, internationally trained ophthalmologist and author Dr Dinesh Verma ex

1,364 anti-cancer formulations to cost less from today

The National Pharmaceutical Pricing Authority (NPPA), under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has capped trade margins on the Maximum Retail Price (MRP) of 137 anti-cancer drugs. This was based on the recommendations of an Expert Committee constitute