State-owned National Aluminium Company Ltd (Nalco) has announced a significant surge in its consolidated profit for the fourth quarter, reaching Rs 99.674 billion, marking a two-fold increase compared to the same period last year. This impressive growth can be attributed to reduced expenses, as indicated by the company's filing with the Bombay Stock Exchange (BSE). In the corresponding quarter of the previous fiscal year (FY23), Nalco had reported a consolidated profit of Rs 4.95 billion.

Despite this remarkable profit growth, Nalco experienced a slight decline in its consolidated total income for the quarter, which stood at Rs 36.63 billion, down from Rs 37.26 billion recorded in the same period a year ago. This decline in total income is attributed to various factors within the operating environment.

The company's expenses for the fourth quarter of FY24 witnessed a notable decrease, amounting to Rs 27.20 billion compared to Rs 31.60 billion reported in the corresponding period last year. This reduction in expenses contributed significantly to the substantial increase in profits.

Nalco, classified as a Navratna Public Sector Undertaking (PSU) under the Ministry of Mines, holds a prominent position as one of the largest integrated bauxite-alumina-aluminium-power complexes in India.

In line with its strategic initiatives to expand its operations and boost ancillary, upstream, and downstream products related to the aluminium industry, Nalco has established a joint venture company named ?Angul Aluminium Park Pvt Ltd? (AAPPL) in collaboration with the Odisha Industrial Infrastructure Development Corporation (IDCO).

The remarkable performance showcased by Nalco in the fourth quarter underscores its resilience and ability to navigate through challenging market conditions. As it continues to pursue strategic partnerships and operational excellence, Nalco remains poised for sustained growth and value creation in the industry. (ET Infra)