Nalco's Profit Surges: Key Insights on Financial Milestone

State-owned Nalco reported a two-fold increase in consolidated profit to Rs 996.74 crore for the March quarter, driven by lower expenses. The company's income dropped to Rs 3,663.09 crore, while expenses fell to Rs 2,720.42 crore. Nalco has also partnered with IDCO to develop the aluminium industry.

State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses.

The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE. However, the consolidated total income during the quarter dropped to Rs 3,663.09 crore from Rs 3,726.76 crore in the year-ago period.

The expenses of the company in the fourth quarter of FY24 dropped to Rs 2,720.42 crore from Rs 3,160.50 crore a year earlier. Nalco is a Navratna PSU under the ministry of mines. It is one of the largest integrated bauxite-alumina-aluminium-power complex in the country. The company has formed a JV company -- Angul Aluminium Park Pvt Ltd' (AAPPL) -- with Odisha Industrial Infrastructure Development Corporation (IDCO) to give a boost to ancillary, upstream and downstream products related to the aluminium industry.