Record profit of Rs 2952 crore for NALCO in 2021-22
Nalco’s Odisha-based PSU also produced a record 4,60,000 tonnes of aluminum cast metal, a company official said on Friday. The venture has achieved 100% capacity utilization of its plant for the first time since its commissioning.
Addressing the shareholders at the Annual General Meeting (AGM) of Nalco on Thursday (September 22), Nalco Managing Director Sridhar Patra said that the financial year 2021-22 has been a historic year for the aluminum manufacturer.
He said, “Nalco’s sales in the last financial year 2021-22 were the highest ever at Rs 14,181 crore. The company’s profit also stood at a record Rs 2,952 crore during this period.
Patra said the company was able to maintain its position as the lowest cost producer of bauxide and alumina in the world despite the pressure of raw material inflation, coal crisis and uncertainty in LME (London Metal Exchange) prices.
The final dividend of 130 percent i.e. Rs 1.50 per share was also approved in the meeting.