National Aluminium Company Limited (NALCO), a navratna central public sector enterprise (CPSE), has released its financial results for the fiscal year ending March 31.

In FY21, the company had a net turnover of Rs 8,869.29 crore and a net profit of Rs 1,299.56 crore, compared to Rs 8,425.75 crore and Rs 138.23 crore the previous year. The net profit of the company for the current fiscal year increased by 840% over FY20. Units, cost-cutting measures, and favourable LME prices all contributed to the results.

With 73.65 lakh tonnes of bauxite produced in 2020-21, NALCO has set a new record for bauxite production.

In FY21, the company exported 1.92 lakh tonnes of aluminium metal, breaking a ten-year record set in 2009-10. In addition, the company produced 20.85 million tonnes of alumina hydrate and 4.18 million tonnes of aluminium metal.

NALCO Chairman and Managing Director Sridhar Patra told the media that the company had made outstanding contributions in promoting and emphasising the plant, production, productivity, and people.

He said that following the peak of the Covid-19 outbreak and the opening of the markets, the second half of the financial year 2020-21 experienced a significant recovery.

Image Source

Also read: Kamdhenu Limited notes 71% surge in net profit for Q4 FY21

Also read: KIOCL Q4FY21 results: Net profit rises to Rs 301.17 cr