NALCO achieves highest net profit in last 10 years in FY 2017-18; aluminium production rises 10%

National Aluminium Company Ltd (NALCO) has proved its mettle by registering high in terms of both physical and financial performances in the financial year 2017-18. The company has registered net profit of INR 1342 crore against INR 669 crore in previous year. In the fourth quarter, the company has earned a net profit of INR 257.06 crore.

The net sales turnover for the year stood at INR 9,377 crore, registering a growth of 26% year-on-year, the highest ever since inception. Export earning of INR 4,076 crore also highest ever since inception registering a growth of 12% YoY.

Panchpatmali Bauxite mines has been rated as the 2nd lowest cost producer in the World in 2017 as per report of Wood Mackenzie, according to company’s press release. The bauxite mines (North-Central block of Panchpatmali Mines) has achieved 100% capacity utilization with transportation (production) of 68.25 lakh tonnes for second successive year.

“Bauxite transportation (production) from new mine i.e. South block of Panchpatmali Mines started in 4th quarter of FY 2017-18. Transportation from South block is 2 lakh MT and combined transportation of both the Mines is 70.25 lakh MT, highest ever since inception.”

Alumina refinery has produced of 21.06 lakh tonnes of alumina hydrate in the financial year 2017-18. Aluminium Smelter production has consistently been increasing over the last 5 years and achieved highest cast metal production of 4.26 lakh tonnes (in last 5 years), registering a growth of 9.8% over last year.

Dr. Tapan Kumar Chand, CMD of NALCO, said, “Year 2017-18 has been a very rewarding year for NALCO on all fronts. We are looking beyond earning just profits. We have improved on all parameters – record production, highest sales and turnover.”

NALCO is also preparing a Game Changing Business Model that will bring additional INR 935 crore net profit to the company. “The model provides for focusing operation of Utkal-D, end of 2nd Qtr 2019, commissioning of 1 million tonne of Alumina Refinery, setting up of Wire Rod Mill 3, bringing into stream Caustic Soda Plant, CT Pitch Plant, etc.”

Dr. Chand cited Angul Aluminium Park as a concrete step for setting up employment ecosystem. He said that company is tying up with ALMEX of USA for high end value products. NALCO will also be promoting micro & small industries in downstream through cash less model of providing aluminium ingot and taking back finished products for marketing.

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