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Nalco’s highest net profit of Rs 1,544 crore in FY 2022-23

May 25th, 2023 8:11 pm | By | Category: SPECIAL NEWS COVERAGE

Sridhar Patra, CMD-NALCO


(THE NEWSMAN OF INDIA.COM)
Navratna CPSE Nalco has reported robust performance across all its business units, with the best-ever annual production and sales during the financial year 2022-23. As per the financial results, taken on record in the board of directors meeting held on Wednesday, Nalco has posted a net profit of Rs 1,544 crore and the highest-ever revenue from operations pegged at Rs 14,255 crore for the financial year.

The net profit for the fourth quarter ended March this year came in at Rs 522 crore against Rs 274 crore in the third quarter of the financial year. Higher input costs coupled with a challenging global business environment, supply-demand and market volatility, impacted Nalco’s profit margins as expected despite the fact that the company has registered considerable growth in several fronts in the financial year, said Nalco CMD Sridhar Patra.

Supported by robust growth across all its business units, the company achieved the highest-ever bauxite excavation of 75.51 lakh tonne and production of 21.23 lakh tonne alumina hydrate against the normative capacity of 21.0 lakh tonne, which is 101.1 per cent capacity utilisation.

Its smelter plant had also achieved full capacity production of 4.6 lakh tonne, with 960 POTs in operation for the second consecutive year. Similarly, on the sales front, Nalco achieved highest-ever metal sale of 4.64 lakh tonne, which also includes the highest-ever domestic metal sale.

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