PIB News Update: Union Minister of Mines, Coal and Parliamentary Affairs Shri Pralhad Joshi urged NALCO, a CPSE under the Ministry of Mines today to provide handloom fabrics worth Rs. 7,500/- to all its employee to commemorate India’s 75 years of Independence being celebrated as “Azadi Ka Amrit Mahotsav”. Shri Joshi was speaking with Team NALCO virtually and congratulated the Navaratna CPSE on the brilliant performance in the financial year 2020-21 and for continuing the tempo of success in the first quarter of 2021-22.
“On the urge of Hon’ble Prime Minister Shri Narendra Modi to encourage handlooms, I advise NALCO to join hands in the mission to promote handloom by providing handloom fabrics worth Rs. 7500/- to each employee to commemorate 75years of Independence,” Shri Joshi said in his address.
Shri Joshi said that NALCO has turned the narrative in its favour and stormed back with greater vigour, resilience and determination in FY 2020-21 to take head on the challenges posed by the dynamic business environment and the ongoing COVID pandemic across the globe. The Company has achieved nine fold increase in profits in 2020-21 to earn a Rs.1300 crore in net profits. NALCO has also posted a net profit of Rs.348 crore in the first quarter of ongoing fiscal 2021-22, compared to Rs.17 crore in Q1 of 2020-21. This is indeed in sync with the company’s tagline “Ordinary People with Extraordinary Attitude.”
“It gives me a sense of confidence that the sincerity and hard work of all employees of NALCO will pay better dividend in the long run realizing the Prime Minister’s dream of a “Aatmanirbhar Bharat”. As a responsible corporate citizen, NALCO’s support and extending helping hand at the time of need to fight against COVID also demonstrates its commitment to the nation.” said Shri Joshi.
NALCO CMD Shri Sridhar Patra, the Company’s Directors, representatives of Unions and employees were present in thevirtual meeting.
NALCO is a Navaratna CPSE under Ministry of Mines, Govt. of India. The company is India’s leading producer and exporter of alumina and aluminium. The company has integrated and diversified operations in mining, metal and power.