National Aluminium Company Limited (Nalco) has posted a net profit of ₹2,060 crore, registering a robust increase of 34 per cent year-on-year (YoY).
“Beating market expectations, the company has also recorded an impressive revenue from operations at ₹13,149 crore for the financial year ’24,” said a press release issued by Nalco.
The release said: “The net profit for the fourth quarter ended March 2024 registered multi-fold increase at ₹1,016 crore against ₹522 crore which is about 95 per cent higher as compared to the year-ago period.”
Despite weak prices of metals, market volatility and geopolitical crosswinds, Nalco has been able to register considerable growth in several fronts and in profit margins in FY24. The company has been able to continue its growth trajectory supported by robust growth across all its business units.
“In FY24, the company achieved the highest-ever bauxite excavation of 76,00,230 metric tonnes, highest-ever cast metal production of 4,63,428 metric tonnes, highest-ever metal sale of 4,70,108 metric tonnes and production of 2 million tonnes of coal in the very first year of operationalisation of its coal mines,” the release said.
Chairman-Cum-Managing Director (CMD) Nalco, Sridhar Patra, said that with further firming up of the aluminium prices and increase in aluminium demand, Nalco is all set to continue the growth story in future.
