The Hindu Business Line : Nalco net profit jumps 52%

Bhubaneswar April 25 The National Aluminium Co Ltd (Nalco) has reported 52.39 per cent jump in net profit to Rs 2,380.7 crore during 2006-07 on the basis of unaudited results. The previous year's profit was Rs 1,562.2 crore.

According to a press release issued by the company, the board at a meeting in Bhubaneswar declared the highest ever turnover of Rs 6,516.78 crore, recording an increase of 22.4 per cent over the previous year's Rs 5,324.16 crore.

The company could achieve the highest-ever metal sale of 3,56,616 tonnes in the year, with the MoU target being 3.45 lakh tonnes. The previous best sale was 3,53,841 tonnes during 2005-06. The aluminium smelter also achieved 104 per cent capacity utilisation during the year.

The company's 960-MW captive power plant, located at Angul near the smelter, generated 5,968 million units, the previous best being 5,679 million units during 2005-06. The coal-based plant could achieve plant load factor of 79.3 per cent, surpassing the previous best of 78.85 per cent during 1993-94.

The release says that the company has been pursuing expansion plans to increase its market share. The company is in the second phase of expansion, at an investment of Rs 5,100 crore. The capacity of the bauxite mines will go up from 48 lakh tonnes to 63 lakh tonnes, that of the refinery from 15.75 lakh tonnes to 21 lakh tonnes, that of the smelter from 3.45 lakh tonnes to 4.6 lakh tonnes per year and that of the captive power plant from 960 MW to 1,200 MW.

Joint ventures: The company is exploring the possibility of setting up joint ventures abroad for making aluminium once the surplus alumina of 1.2 million tonnes becomes available after expansion. An R&D centre is being set up at Chandaka and efforts are on to get a detailed feasibility report done by a consultant, adds the release.

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