PIB News Update: NALCO, a Navratna CPSE under the Ministry of Mines, has began the financial year 2021-22 with robust financial and physical performances. The net profit in the first quarter ended 30th June has jumped to Rs.347.73 crore from Rs.16.63 crore achieved in the corresponding period of the previous year. Beating market expectations and amidst challenging business environment, the company has demonstrated remarkable performance across all its business segments.
The company has reported revenue from operations of Rs.2474.55 crore, an increase of 79.2% YoY. This performance is mainly propelled by strong demand, higher volumes, better realization and effective capacity utilization of its operational units.
On the production front, NALCO has put up an impressive performance. Production of bauxite in mines, alumina in refinery and aluminium in smelter plant have exceeded the respective figures achieved during the first quarter of the last financial year.