Nalco FY18 revenue doubles to Rs 1,342 crore

Kolkata: National Aluminium Company (Nalco) more than doubled its revenue during the FY 2017-18, at Rs 1342.19 crore against Rs 669 crore in the previous year. In the fourth quarter the state-owned company earned a net profit of Rs 257.06 crore. The Net sales turnover for the year is Rs 9,377 crore (highest ever since inception) registering a growth of 26 % over last year. Export earning of Rs 4,076 crore also highest ever since inception registering a growth of 12 % over last year. During the year, Nalco was the third highest net foreign exchange earning central public sector enterprise in the country.

Speaking on the company’s achievement on Saturday, Tapan Kumar Chand, chairman Nalco, said: “Year 2017-18 has been a very rewarding year for the company on all fronts. We are looking beyond earning just profits. We have improved on all parameters – record production, highest sales and turnover.”

Chand said while focusing on the present, the company is ensuring it doesn’t lose sight of what the future holds. “We are introducing a game changing business model that will bring an additional Rs 935 crore of net profit to the company,” he said. The model provides for focusing operation of Utkal-D, end of second quarter 2019, commissioning of the one million tonne alumina refinery, setting up of wire rod mill 3, bringing into stream caustic soda plant and coal tar pitch plant, etc.