By Bizodisha Bureau, Bhubaneswar, May 25, 2022: Aluminium major, National Aluminium Company Limited (NALCO), has notched up 227% rise in the net profit over immediate preceding financial year – an all time high net profit.

The Navratna PSU, has posted its best-ever annual production and sales in FY 21-22, registering highest ever revenue from operations and highest ever net profit (PAT) of Rs 14,181 crore and Rs 2,952 crore respectively. Market dynamics has resulted in multifold increase in turnover and consequent Profit in the fiscal 21-22, a Nalco release said.

During FY 21-22, the Company achieved bauxite production of 75.11 lakh tonnes from its Captive Bauxite Mines and produced aluminium at its nameplate capacity of 4.60 lakh tonnes for the first time since inception, surpassing all previous records.

NALCO chairman cum managing director, Sridhar Patra attributed strong operational performance coupled with effective raw material procurement and sales strategy, cost saving measures, supported by positive business outlook, favourable LME price and uptick in global aluminium demand to the success. The strategic decision with focus on optimizing production and productivity in spite of COVID restrictions has paid dividends, he added.