Financial Daily from THE HINDU group of publications
Friday, Apr 22, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 22, 2005 |
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Corporate Results
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Aluminium Nalco net profit up at Rs 1,222.43 cr Our Bureau
Visakhapatnam , April 21 THE National Aluminium Company Ltd (Nalco), the leading producer and exporter of alumina and aluminium in the country, closed the financial year (2004-05) with a record sales turnover of Rs 4,437.97 crore and the highest ever net profit of Rs 1,222.43 crore. According to the unaudited results taken on record at a meeting of the board here on Thursday, the company's exports crossed Rs 2,200 crore in comparison with Rs 1,717 crore in the previous financial year. Sales turnover during the previous year was Rs 3,348.57 crore and net profit Rs 737.37 crore. On the production front, the company established new records on all counts. The bauxite mines crossed the rated capacity to achieve the highest-ever production of 48.52 lakh tonnes against 48.17 lakh tonnes in the previous year. Alumina production increased to 15.75 lakh tonnes from 15.56 lakh tonnes. Cast metal production jumped to 3,38,527 tonnes from 2,98,207 tonnes in the previous year. On the marketing front, Nalco recorded the highest-ever domestic aluminium metal sales of 2,05,797 tonnes in comparison with 1,66,650 tonnes last year. Export metal sale of 1,32,730 tonnes was also a new record compared to 1,29,719 tonnes last year. The company started work on the second phase of expansion at a cost of Rs 4,091 crore. The project would raise the bauxite mine capacity from 48 lakh tonnes to 63 lakh tonnes, alumina capacity from 15.75 lakh tonnes to 21 lakh tonnes and aluminium production capacity from 3.45 lakh tonnes to 4.60 lakh tonnes, according to a press release issued by the company.
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