The RBI board decided to pay Rs 50,000 crore as dividend to the government for the financial year ended June 2018 on Wednesday.
The company had reported Rs 40 crore consolidated net profit for the corresponding period last fiscal.
Tapan Kumar Chand, CMD, Nalco, attributed the success to team work, strong cost focus and strategic planning.
ICICI Bank, India’s largest private sector lender, on Friday, reported a historic loss of Rs 120 crore for the June quarter ending 2018. Bank of Baroda surprised with an over two-fold jump in its net profit.
Of the gross GST collection of Rs 1,03,458 crore in April, the CGST component stood at Rs 18,652 crore, SGST contributed Rs 25,704 crore, and the IGST component stood at Rs 50,548 crore, according to the finance ministry.
Sectors that are likely to gain traction in FY19 include IT, consumption-focused sectors, high-quality infrastructure, and construction companies and Pharma.
The massive revision of bad loan resolution norms announced on February 12 will lead to a spike in impaired assets in the March 2018 numbers, but will peak by mid 2018-19 and will gradually slide down, Crisil said and described FY19 as a "year of reckoning" for banking system.
The World Bank's biannual publication, India Development Update: India's Growth Story, expects the economy to clock a growth rate of 6.7 per cent in the current fiscal ending March 31.