BHUBANESWAR: The National Aluminium Company Ltd (Nalco) on Monday said its net profit in the December quarter of the current financial year (FY) surged by 3.5 times to Rs 830.67 crore, a jump of 246 per cent over the Q3 of 2020-21 fiscal.
The company also beat the highest profit figure clocked since inception for the first nine-month period with a net profit of Rs 1,926 crore for the period ending December 2021, a 5-fold increase and a substantial jump of 429 per cent over Rs 364 crore posted in the corresponding period of the previous fiscal.
Nalco officials said the total revenue from operations in the third quarter of FY22 witnessed substantial growth, clocking Rs 3,773 crore compared to Rs 2,379 crore in Q3 of FY21.
Nalco also declared a second interim dividend of Rs 3 per equity share for the financial year 2021-22. The first interim dividend of Rs 2 per equity share was paid in December 2021. “The total interim dividend paid during the current financial year works out to 100 percent of the paid-up equity share capital,” the company stated.
Nalco CMD Sridhar Patra attributed the success to the exemplary contributions of the employees in these trying times and lauded them for focusing on production and productivity.
“The robust growth and all-round performance on production and financial parameters is a testimony to the hard work and commitment of the employees and strategic focus on production, people, and projects,” he said. Despite the challenging circumstances due to the Covid pandemic, he said, the company has displayed exemplary resilience to register exceptional growth on the sales and production front.