New Delhi: National Aluminium Company Ltd (NALCO) has reported a stellar 107% increase in its Q4 profit at Rs.2,067.23 crore, even as the company saw a 158% rise in net profit to Rs.5,267.94 crore from Rs.1,988.46 crore. Revenues also increased substantially from Rs.13,149.15 crore to Rs.16,787.63 crore from last year.
“Fuelled by strong aluminium and alumina prices, streamlined operations, improved efficiency, and momentum in expansion projects, NALCO has been able to continue its growth trajectory,” the company said in a press release.
In this financial year, NALCO achieved its highest ever bauxite excavation of 76.48 lakh tonnes and highest domestic sales of 4.55 lakh tonnes, a major contributor to its stellar financial results.
“Enhancing efficiency, cost optimization and unwavering commitment of employees have played a key role in enabling Nalco to maintain competitive pricing in a dynamic market environment. Moreover, Nalco’s strategic focus on process improvements has fostered a motivated, performance-driven workforce,” NALCO’s CMD, Brijendra Pratap Singh said.
As India’s largest integrated aluminium producer, NALCO has been working to enhance capacity and green energy initiatives as part of its long-term growth strategy, even as the company’s shares declined more than 27% in the last 6 months. After this announcement, NALCO’s shares rose more than 5%, and they are now trading at Rs.181.56 as at 11.40 AM on May 23.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
