NALCO hits 52-week high after Q4 PAT spurts to Rs 936 crore
Shares of NALCO rose 0.37% to Rs 80.35 on BSE. The scrip hit a 52-week high of Rs 82.50 in early trade today.
On a consolidated basis, NALCO’s net profit jumped 830.99% to Rs 935.74 crore on 45.74% rise in revenue from operations to Rs 2,821.48 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax surged 374.53% to Rs 838.32 crore in Q4 FY21 as against Rs 176.66 crore in Q4 FY20. The Q4 earnings were announced after market hours yesterday, 28 June 2021.
During the financial year, NALCO’s consolidated net profit soared 853.83% to Rs 1,299.41 crore on 5.71% increase in revenue from operations to Rs 8,955.79 crore in FY 2021 over FY 2020. The results were driven by strong operational performance by units, with effective sales strategy, cost saving measures, supported by favourable LME price.
During the year 2020-21, NALCO has achieved the highest ever production of bauxite at 73.65 lakh tonnes. Similarly, the company also achieved the highest-ever export of 1.92 lakh tonnes of aluminium metal in 2020-21, surpassing the decade old record of 1.46 lakh tonnes achieved in 2009-10. Further, NALCO also achieved production of 20.85 lakh tonnes of alumina hydrate and 4.18 lakh tonnes of aluminium metal.
Sridhar Patra, the CMD of NALCO, said that the company had made exemplary contributions in promoting and putting focus on plant, production, productivity and people. After the peak period of COVID-19 outbreak and with the opening of the markets, we witnessed a significant recovery in the second half of the financial year of 2020-21. With further easing of restrictions and resumption of economic activities, we are optimistic for a robust growth in the long run with our focus on increasing the production in mining and refining segments and opening up of the new coal blocks, he said.
NALCO is a Navratna group ‘A’ CPSE having integrated and diversified operations in mining, metal and power under Ministry of Mines, Government of India. As on 31 March 2021, the Government of India held 51.28% equity of NALCO.
Shares of NALCO rose 0.37% to Rs 80.35 on BSE. The scrip hit a 52-week high of Rs 82.50 in early trade today.
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