Odisha Channel Bureau
Bhubaneswar: National Aluminium Company Limited (NALCO) has surpassed several milestones in its journey of business excellence in Q3 of financial year 2021-22. The company registered nearly 3.5-fold increase in net profit to clock Rs. 831 crore in Q3 of FY22, a jump of 246% compared to Rs. 240 crore in Q3 of FY21.
The company has also broken the highest profit figure clocked since inception for the first nine month period, with Net profit of Rs. 1,926 crore for the period ending December 2021, a 5-fold increase and a substantial jump of 429% over 364 crore posted in corresponding period of previous fiscal.
The total revenue from operations in Q3 of FY22 witnessed substantial growth, clocking Rs. 3,773 crore compared to Rs. 2,379 crore in Q3 of FY21.
The results were driven by sustained supply of raw material, optimized production, strategic sourcing of power, particularly during the period of coal crisis, better realisation and effective capacity utilisation of its operational units.
NALCO also declared second interim dividend of Rs. 3 per equity share (60% of face value of Rs. 5 per share) for the FY 21-22. The first interim dividend of Rs. 2 per equity share was paid in December 2021. The total interim dividend paid during the current financial year works out to 100% of the paid up equity share capital.
Despite the challenging circumstances due to COVID-19 pandemic, the company has displayed exemplary resilience to register solid growth on sales and production front. During the nine months of current fiscal, the company achieved production of 55.03 lakh tonne bauxite compared to 53.48 lakh tonne during corresponding period of FY21, and Alumina Hydrate of 15.41 lakh tonnes, against 15.07 lakh tonnes of previous fiscal. Aluminium production also registered healthy growth with full capacity utilization of the Smelter plant at 3.43 lakh tonnes produced in the first nine month ending Dec 2021, against 3.06 lakh tonnes of FY21.
NALCO Collective achieved an important milestone by bringing 960 pots in Smelter Complex into simultaneous operation, achieving 100% capacity utilisation for the first time in history of the Company during a critical period defying all odds and challenges.