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Under the government of India's ministry of mines, National Aluminium Company Limited (NALCO), a Navratna CPSE, declared a 34% year-over-year rise in its net profit for the fiscal year 2024, with earnings totaling ₹2,060 crore. In addition to revealing these findings, the company highlighted its remarkable ₹13,149 crore in operating revenue for the same time during a board meeting.
In the fourth quarter ending March 2024, NALCO's net profit increased to ₹1016 crore, nearly doubling from ₹522 crore reported in the corresponding quarter of the previous year, showing a 95% surge. This growth comes despite ongoing challenges in the global metals market, characterised by weak prices and geopolitical uncertainties.
NALCO also highlighted record outputs across its operations, with the highest-ever bauxite excavation reaching 76,00,230 metric tonne and cast metal production at 4,63,428 metric tonne. Additionally, the company achieved a record metal sale of 4,70,108 metric tonne and produced 2 million tonne of coal in the first year of its coal mines being functional.
NALCO Chairman and Managing Director Sridhar Patra attributed the strong performance to robust growth across all business units and the resilience of the company’s operational strategies. "With aluminium prices firming and demand increasing, we are well-positioned to continue our growth trajectory," said Patra, expressing optimism for the future.
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