KOLKATA: The board of National Aluminium Company (Nalco) has
approved a significant capacity expansion plan to set up a one million
tonne alumina refinery at Damanjodi, Koraput, Odisha at a proposed
investment of Rs 5,540 crore. Nalco already has a captive bauxite
deposit at Pottangi in the state, which will be utilized in this
project. This is the first major expansion in the state run aluminium
company in step with the Modi government's Make in India campaign.
With a view to boost the ancillary and downstream
industries, Nalco is also committed to supply 50,000 tonne of aluminium
metal to 'Angul Aluminium Park' which has been formed as a joint venture
between Nalco and Industrial Development Corporation of Odisha. Apart
from investing in its mainstay metals business, the company is also
stepping up its fledgling presence in the renewable energy sector. In a
statement on Monday, the company said is "in an advance stage of setting
up of 100 MW wind power plant at a suitable location with an estimated
investment of Rs 660 crore."
The aluminium major reported a more than two fold rise in net profit to Rs 354.87 crore in Q4 FY15, due to an exceptional gain. Against this the company had posted a net profit of Rs 172.45 crore in the previous corresponding period. Total income, however, declined by 2% to Rs 1,801.25 crore in January-March quarter of 2014-15 from Rs 1,838.20 crore in the same period of 2013-14.
The aluminium major reported a more than two fold rise in net profit to Rs 354.87 crore in Q4 FY15, due to an exceptional gain. Against this the company had posted a net profit of Rs 172.45 crore in the previous corresponding period. Total income, however, declined by 2% to Rs 1,801.25 crore in January-March quarter of 2014-15 from Rs 1,838.20 crore in the same period of 2013-14.
For fiscal FY15, Nalco's net profit went up to Rs 1,322
crore in FY15 against Rs 642 crore in same period of FY14. During the
year, the company achieved its highest ever gross turnover of Rs 7,771
crore, a 10.6% rise against Rs 7,024 crore achieved in 2013-14.
The company's export turnover for the fiscal 2014-15 was Rs 3,307 crore. The company's board which met in New Delhi last Saturday (May 30), recommended final dividend at a rate of 10% (Re. 0.50 per equity share of Rs 5 each), amounting to Rs 322.16 crore for the financial year 2014-15, on the paid-up equity share capital of Rs 1288.62 crore.
Nalco produced 3.27 lakh tonne (lt) of cast metal in FY15 against 3.16 lt produced the previous year. Alumina hydrate production was a shade lower in FY15 at 18.51 lt against 19.25 lt in the previous year. While Nalco's captive power plant achieved net power generation of 5,131 million unit against 4,989 million unit achieved in last fiscal, Nalco also generated 175 MU of wind energy during the year by operating a 50.4 MW wind power plant at Gandikota, Andhra Pradesh and another 47.6 MW plant at Jaisalmer, Rajasthan.
The company's export turnover for the fiscal 2014-15 was Rs 3,307 crore. The company's board which met in New Delhi last Saturday (May 30), recommended final dividend at a rate of 10% (Re. 0.50 per equity share of Rs 5 each), amounting to Rs 322.16 crore for the financial year 2014-15, on the paid-up equity share capital of Rs 1288.62 crore.
Nalco produced 3.27 lakh tonne (lt) of cast metal in FY15 against 3.16 lt produced the previous year. Alumina hydrate production was a shade lower in FY15 at 18.51 lt against 19.25 lt in the previous year. While Nalco's captive power plant achieved net power generation of 5,131 million unit against 4,989 million unit achieved in last fiscal, Nalco also generated 175 MU of wind energy during the year by operating a 50.4 MW wind power plant at Gandikota, Andhra Pradesh and another 47.6 MW plant at Jaisalmer, Rajasthan.
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