Press Information Bureau: July 01, 2021
Navratna CPSE NALCO, under the Ministry of Mines, has reported results for the Financial Year 2020-21.
According to the audited financial results, taken on record in the Board of Directors meeting held on June 28th, 2021, NALCO’s Net Turnover has improved to Rs. 8,869.29 crore in FY21 against Rs. 8425.75 crore in previous year, while the Net Profit for FY21 has jumped by 840% to Rs. 1,299.53 crore compared to Rs. 138 crore in FY20. The results were driven by strategic decisions on procurement, sales & marketing, favourable LME prices and augmented by strong operational performance by units despite restricted manpower deployment due to COVID-19 guidelines.
During the year 2020-21, NALCO has achieved the highest ever production of bauxite at 73.65 lakh tonnes. Similarly, the Company also achieved the highest-ever Aluminium metal export of 1.92 lakh tonnes, surpassing the decade old record of 1.46 lakh tonnes achieved in 2009-10. Further, the Company also achieved production of 20.85 lakh tonnes of alumina hydrate in Refinery in Damanjodi and 4.18 lakh tonnes of Aluminium metal from Smelter plant in Angul, Odisha.
Mr. Alok Tandon, Secretary to Govt. of India, Ministry of Mines has congratulated NALCO collective and Board of Directors for the impressive results. Appreciating the NALCO Management under the leadership of Mr. Sridhar Patra, CMD, he also urged to continue the growth momentum in coming years.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.