India: NALCO posts strong performance in Q4FY23

National Aluminium Company Limited (NALCO) has reported a robust performance in Q4FY'23 across all its business units.

The PSU clocked the highest-ever bauxite production of 75.51 lakh tonnes. The production of alumina hydrate reached 21.23 lakh tonnes, surpassing the normative capacity of 21 lakh tonnes. This indicates a capacity utilisation rate of 101.1%, showcasing efficient utilisation of resources.

The company posted significant growth in net profit from INR 274 crore in Q3FY'23 to INR 522 crore in Q4. This increase in net profit suggests that the company's revenue exceeded its expenses and that it was able to generate more profit during the period under review.

However, NALCO's net profit plunged 47% y-o-y from INR 2,952 crore in FY'22 to INR 1,544 crore in FY'23 due to a challenging global business environment amid increased input costs, supply-demand fluctuations, and market volatility.

The company achieved its highest-ever metal sales which stood at 4.64 lakh tonnes. This highlights its exceptional performance and solidifies its position in the domestic aluminium industry.

It achieved full capacity production of 4.6 lakh tonnes at its smelter plant, with an impressive 960 POTs (Potline Reduction Cells) in operation for the second consecutive year. By achieving full-capacity production for two consecutive years, NALCO has showcased its commitment to providing reliable supply of high-quality aluminium products.

Sridhar Patra, CMD, NALCO, said: "The results were driven by strengthening operational and sales performance and supported by growth across all business units. Effective utilisation of raw materials and cost-saving measures also contributed to the profit margin. We remain optimistic about the future and committed to continuing the company's growth trajectory".