National Aluminium Company Ltd (Nalco) has reported a massive jump in net profit for the first quarter ended June 2021 at Rs 347.73 crore compared with Rs 16.63 crore in the corresponding quarter of the previous year.

Revenue from operations was up 79.2 per cent at Rs 2,474.55 crore against Rs 1,380.63 crore in the year-ago period.

The impressive numbers were propelled by strong demand, higher volumes, better realisation and effective capacity utilisation of its operational units, Nalco said.

During the quarter, the production of bauxite came in at 17.61 lakh tonnes (17.10 lakh tonnes), alumina at 5.21 lakh tonnes (4.65 lakh tonnes) and aluminium 1.14 lakh tonnes (0.98 lakh tonnes).

Sridhar Patra, chairman and managing director of Nalco, said, “Despite the challenges imposed because of the Covid-19 pandemic, Nalco through strategic planning of raw materials, manpower and marketing initiatives has been able to steer towards organisational success.”