Financial Daily from THE HINDU group of publications
Wednesday, Oct 27, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 27, 2004 |
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Corporate
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Performance Nalco's Rs 224.60-cr dividend Our Bureau
BHUBANESWAR: Nalco has paid Rs 224.60 crore to the Union Government as its share of dividend for 2003-04, according to a company release. The dividend cheque was handed over to Dr Dasari Narayana Rao, Union Minister of State for Coal and Mines, by Mr G. Upadhyaya, CMD, on Tuesday in the presence of Mr C.D. Arha, Secretary of the Department of Mines. During the year, the company posted a record turnover of Rs 3,338.87 crore and net profit of Rs 737.37 crore. It earned foreign exchange of Rs 1,717 crore. With the implementation of the first phase of the expansion project, Nalco's mining capacity has risen to 4.8 million tonnes per annum, refinery capacity to 1.575 million tonnes, metal capacity to 3.45 lakh tonnes and captive power generation to 960 MW. The Union Government has given the go-ahead for the second phase of expansion at an outlay of Rs 4,091 crore. It will make Nalco a global player and it will then have the sixth largest alumina refinery in the world.
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