Today' Focus

        Apple never fails to surprise its consumers and woo them with uniquely featured products. Following the legacy, it has recently unveiled a new line of MacBook Air laptops made out of 100 per cent recycled aluminium. Therefore, the weight of the devic...

International News

    Nalco aims at achieving INR 1,600 crore net profit in FY2018-19: Chand says

  • China Aluminium Network
  • Post Time: 2019/1/29
  • Click Amount: 94

    A Navaratna CPSE under Ministry of Mines National Aluminium Company Limited (Nalco) has reportedly aimed at achieving a net profit of over INR 1,600 crore and revenue of INR 12,000 crore during the on-going fiscal 2018-19.

    The news came after the company’s CMD Dr. Tapan Kumar Chand said: "We have a corporate plan to increase the turnover from the existing level of Rs. 10,000 crore to Rs. 30,000 crore. This year itself, we are likely to register a gross turnover of more than Rs. 12,000 crore."

    He further said the company aims to register a net profit of INR 1,600 crore as it eyes to 1 million tonnes of more alumina production and 1.2 million tonnes of more aluminium production.

    During the financial year 2017-18, Nalco had recorded a 10-years high net profit of INR 1,342 crore, up from INR 669 crore in the prior year.

    Globally, Nalco is now leading from the front in promoting aluminium as the future metal in international aluminium summits, said Dr. Chand while speaking during the Republic Day celebrations on Saturday, January 26.

    He also said that Nalco, since its inception, has aimed to become a global leader and from 2015 started achieving global benchmark in bauxite and alumina production.

    Chand expects the opening of Utkal-D coal mines to bring a turnaround in aluminium production and enable the company to climb the global scale.

    "We have a dream to see our company as a giant global player. The Union government has also cleared the company's proposal to float Khanij Bidesh (KABIL) to acquire mining assets abroad," he said.

    Nalco’s earnings from export of about INR 4,075 crore during 2017-18 was also the highest ever since inception, point out a company official, who also said the aluminium major achieved highest-ever alumina hydrate production of 21.06 lakh tonnes during the said year.

    Source: www.alcircle.com
      Copyright and Exemption Declaration :①All articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ②Articles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ③If any articles copied by our website concern the copyright and other problems, please contact us within one week.