National Aluminium Company (NALCO) rose 1.22% to Rs 120.45 after the company's consolidated net profit surged 246.53% to Rs 830.67 crore on 58.62% rise in net sales to Rs 3773.26 crore in Q3 December 2021 over Q3 December 2020.
Profit before tax rose 271.47% to Rs 1,108.94 crore in Q3 December 2021 as against Rs 298.53 crore in Q3 December 2020.The results were driven by sustained supply of raw material, optimized production, strategic sourcing of power, particularly during the period of coal crisis, better realization and effective capacity utilization of its operational units.
Total expenses jumped 29.29% to Rs 2,736.12 crore with cost of materials consumed soaring 60.48% to Rs 513.85 crore during the period under review. Power, fuel and other utilities expense rose 32.22% YoY to Rs 871.81 crore in Q3 December 2021.
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 December 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 utilization for the first time in its history.
Sridhar Patra, CMD, NALCO, attributed the success to the exemplary contributions of the employees in these trying times, and lauded them for focusing on production and productivity. "The robust growth and all round performance on production andfinancial parameters is testimony to the hard work and commitment of the employees and strategic focus on Production, People, and Projects. The strategic growth-oriented roadmap and the relentless quest displayed by the employees to travel the extra mile in these challenging times is praiseworthy," Patra said.
NALCO declared a second interim dividend of Rs 3 per equity share for the FY 21-22. The payment of 2nd interim dividend shall be made on or before 7 March 2022 to all eligible shareholders.
NALCO, a Schedule 'A' Navratna CPSE, is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complex in the country. At present, Government of India holds 51.28% of paid up equity capital.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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