NALCO net up 52% to Rs 2,381 cr

By Staff
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Google Oneindia News

New Delhi, Apr 26 (UNI) NALCO today reported a 52.39 per cent jump in net profit Rs 2,380.70 crore during 2006-07 from Rs 1,562.20 crore last fiscal.

National Aluminium Company Limited, (NALCO) registered its highest ever turnover of Rs 6,516.78 crore, an increase of 22.40 per cent over the previous year's figure of Rs 5,324.16 crore.

The company achieved a metal sale of 3,56,616 tonnes during 2006-07, a growth of 3.4 per cent against the MoU target of 3,45,000 tonnes. The previous best sale was 3,53,841 tonnes in the year 2005-06.

The Aluminium Smelter of the company also achieved 104 per cent capacity utilisation during the year.

The company's 960 MW captive power plant, located at Angul near the Smelter Plant, has achieved a power generation of 5,968 million units, the previous best being 5,679 million units in 2005-06.

The generation is also higher than the MoU target of 5714 million units. Besides, this two decade old coal-fired power plant of NALCO achieved the highest-ever plant load factor (PLF) of 79.3 per cent, surpassing the decade-old 78.85 per cent PLF achieved in 1993-94.

In order to strengthen its business and increase its market share NALCO has launched its second phase expansion with an investment of Rs 5,100 crore.

The present capacity of bauxite mines will go up from 48 lakh tonnes to 63 lakh tonnes, alumina refinery from 15.75 lakh tonnes to 21 lakh tonnes, aluminium smelter from 3.45 lakh tonnes to 4.60 lakh tonnes per year and captive power plant from 960 MW to 1200 MW.

As part of business development strategy, NALCO is also actively exploring the possibilities of setting up joint venture projects abroad for making aluminium based on its surplus alumina to the tune of 1.2 million tonnes expected to be available once the second phase expansion is complete.

In order to meet the requirement of its expansion activities relating to captive power generation, NALCO has been allotted Utkal-E Coal Block for mining of Coal. Environmental studies have been carried out and CMPDI and RITES have been appointed as consultants for various jobs.

UNI

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