Nalco Q4 YoY profit jumps two-fold to Rs 99.67 billion
Despite this remarkable profit growth, Nalco experienced a slight decline in its consolidated total income for the quarter, which stood at Rs 36.63 billion, down from Rs 37.26 billion recorded in the same period a year ago. This decline in total income is attributed to various factors within the operating environment.
The company's expenses for the fourth quarter of FY24 witnessed a notable decrease, amounting to Rs 27.20 billion compared to Rs 31.60 billion reported in the corresponding period last year. This reduction in expenses contributed significantly to the substantial increase in profits.
Nalco, classified as a Navratna Public Sector Undertaking (PSU) under the Ministry of Mines, holds a prominent position as one of the largest integrated bauxite-alumina-aluminium-power complexes in India.
In line with its strategic initiatives to expand its operations and boost ancillary, upstream, and downstream products related to the aluminium industry, Nalco has established a joint venture company named ?Angul Aluminium Park Pvt Ltd? (AAPPL) in collaboration with the Odisha Industrial Infrastructure Development Corporation (IDCO).
The remarkable performance showcased by Nalco in the fourth quarter underscores its resilience and ability to navigate through challenging market conditions. As it continues to pursue strategic partnerships and operational excellence, Nalco remains poised for sustained growth and value creation in the industry. (ET Infra)