NALCO’s Net Profit for 2018-19 Jumps by 29% to Rs. 1732 Cr

By admin On May 30, 2019

Bhubaneswar: Despite adverse international market, Public sector Aluminium Producer NALCO has reported 29% jump in net profit at Rs. 1732 Crore.

According to the audited financial results for 2018-19, taken on record by the Board of Directors in a meeting held on 30th May 2019 in New Delhi, during the FY 2018-19, NALCO has registered a net profit of Rs. 1732 crore, a growth of 29%, i.e. Rs. 390 crore over last year’s net profit of Rs.1342.19 crore. In 4^th quarter the Company has earned a net profit of Rs. 233 crore. During the year, the Net sales turnover for the year is Rs.11,386 crore registering a growth of 21% over last year. Export earning of Rs. 4792.71 crore also registering a growth of 18 % over last year.

With 100% capacity utilization, NALCO’s Panchpatmali Mines has achieved Bauxite excavation of 74.14 lakh MT, which is highest ever since inception. Bauxite transportation has gone up to 72.31 lakh MT, which is also highest ever since inception. Company’s Alumina Refinery has produced highest-ever 21.53 lakh MT of Alumina Hydrate and set a new record. Steam & Power Plant (SPP) of Alumina Refinery achieved highest ever net power generation. Further, Aluminium Smelter achieved highest cast metal production of 4.40 lakh MT in last 8 years. NALCO’s Smelter has produced highest-ever Wire rod, billet, green anode, rodded anode, T-Ingot since inception. Wind power generation of 363 MU is also highest ever since inception. In short, year 2018-19 has been a year of new records in production since inception.

It may also be noted that NALCO has ended financial year 2018-19 on a strong performance in domestic sale which is highest-ever since inception. Total metal sale of 4.41 lakh MT registered a growth of 3.5% over last year and also Domestic sale of metal of 4.02 lakh MT registering a growth of 14.9% over last year are highest ever since inception. Further, as per the Public Enterprise Survey of Department of Public Enterprises (DPE), the Company has been rated as the 3^rd Highest ‘Net Foreign Exchange Earning CPSE’ in the Country for the year.