Public sector National Aluminium Company (Nalco) declared its highest ever dividend of 114 per cent, paying out ₹1,102 crore, for 2017-18 as against 56 per cent for the previous year, according to a press release.
The 37th AGM of the company was held here on Wednesday. Including the dividend distribution tax, the total amount works out at ₹1,326.06 crore against ₹651.40 crore last year.
The net profit doubled to ₹1,342 crore (₹669 crore). The company has paid a total of ₹7,273.59 crore as dividend including ₹5,918.39 crore as the share of the Government of India. Chairman and Managing Director Tapan Kumar Chand said, “The new business plan has set the company on the growth path. The latest results show it. The company is set to scale greater heights.”
According to the press release, Nalco registered the highest turnover of ₹9,376 crore, up by 26 per cent over last year.
Export earnings were ₹4,076 crore, up 12 per cent. The company produced alumina at the lowest cost for the second year in succession.
Nalco’s aluminium metal sales amounted to 4.26 lakh tonnes in 2017-18 (3.85 lakh tonnes) and alumina sales were 13.37 lt including exports of 12.76 lt.