Nalco net profit zooms past Rs 1,000 crore

The company’s net profit has zoomed from Rs 731 crore in 2014-15 to Rs 1,732 crore in 2018-19.

Published: 08th November 2019 07:47 AM  |   Last Updated: 08th November 2019 07:47 AM   |  A+A-

NALCO logo

NALCO logo used for representational purposes.

By Express News Service

BHUBANESWAR: Nalco has registered a net profit of over Rs 1,000 crore in the last four years with growth of around 29 per cent over the previous year.

The company’s net profit has zoomed from Rs 731 crore in 2014-15 to Rs 1,732 crore in 2018-19. It has also recorded the highest ever export earning of Rs 4,793 crore with growth of 18 per cent over the last fiscal. A company official said the leading alumina producer has achieved five-digit net sales turnover of Rs 11,386 crore in 2018-19, the highest since its inception, registering a growth of 21 per cent over 2017-18 surpassing the revenue of private competitors.

“Nalco has paid record dividend payout of Rs 1,072.73 crore, an increase from 114 per cent in 2017-18 to 115 per cent in 2018-19, which works out to Rs 5.75 per equity share of Rs 5 each. This is the highest dividend payout since the inception of the company in 1981. It has also achieved capital expenditure of Rs 919 crore,” he said.

With 100 per cent capacity utilisation of North and Central blocks for a third consecutive year, the company has achieved highest ever alumina hydrate and metal production since inception besides highest ever production of value-added products and wind power generation.

It has also set global benchmarks in the production front by becoming the lowest cost producer of alumina in the world for three consecutive years and the lowest cost producer of bauxite in 2018-19.

“A new corporate plan was rolled out envisaging a seven-year strategy and a 15-year vision to improve the bottom line and top line of the company. It has identified functional and business initiatives to give the company a competitive edge to overcome the impact of commodity cycle,” the official informed.

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