National Aluminium Co Ltd (Nalco) on Monday reported a nine-fold rise in consolidated profit at Rs 935.74 crore for the quarter ended March 31, 2021, helped by strong operational performance and favourable prices.
The company had posted a consolidated profit of Rs 100.51 crore in the year-ago period, Nalco said in a filing to BSE.
The consolidated income of the company increased to Rs 2,874.47 crore, compared to Rs 2,042.27 crore in the year-ago period.
"After the peak period of COVID-19 outbreak and with the opening of the markets, we witnessed a significant recovery in the second half of the financial year of 2020-21.
"With further easing of restrictions and resumption of economic activities, we are optimistic for a robust growth in the long run with our focus on increasing the production in mining and refining segments and opening up of the new coal blocks," Nalco CMD Sridhar Patra said.
Attributing the success to the teamwork and dedication of the employees, Patra said the company has made exemplary contributions in promoting and putting focus on plant, production, productivity and people.
The results were driven by strong operational performance by units, with effective sales strategy, cost saving measures, supported by favourable LME price, the company said.Nalco, a 'Navratna' CPSE under the Ministry of Mines, is the largest integrated manufacturer and exporter of alumina and aluminium.