Indian Economy: News and Discussion

sorcerer

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NALCO’s Net Profit at Rs.1300 crore in FY21 compared to Rs 138 cr in FY20; jumps by 840%


Posted On: 30 JUN 2021 4:57PM by PIB Delhi



Navratna CPSE NALCO, under the Ministry of Mines, has reported results for the Financial Year 2020-21.


According to the audited financial results, taken on record in the Board of Directors meeting held on June 28th, 2021, NALCO’s Net Turnover has improved to Rs. 8869.29 crore in FY21 against Rs. 8425.75 crore in previous year, while the Net Profit for FY21 has jumped by 840% to Rs. 1299.53 crore compared to Rs. 138 crore in FY20. The results were driven by strategic decisions on procurement, sales & marketing, favorable LME prices and augmented by strong operational performance by units despite restricted manpower deployment due to COVID guidelines.


During the year 2020-21, NALCO has achieved the highest ever production of bauxite at 73.65 lakh tonnes. Similarly, the Company also achieved the highest-ever Aluminium metal export of 1.92 lakh tonnes, surpassing the decade old record of 1.46 lakh tonnes achieved in 2009-10. Further, the Company also achieved production of 20.85 lakh tonnes of alumina hydrate in Refinery in Damanjodi and 4.18 lakh tonnes of Aluminium metal from Smelter plant in Angul, Odisha.


Shri Alok Tandon, Secretary to Govt. of India, Ministry of Mines has congratulated NALCO collective and Board of Directors for the impressive results. Appreciating the NALCO Management under the leadership of Shri Sridhar Patra, CMD, he also urged to continue the growth momentum in coming years.
 

Haldilal

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Haldilal

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Ya'll Nibbiars Tata Telesrvice from a joker to the Ace. Could be the next SaaS company which could even put jio platforms in tough positions. Three years ago, Tata Sons was forced to write off $4 billion in Tata Teleservices. Today, rebranded and re-energised, Tata believes the business could be the key that allows it to access India’s 75 million-strong SME goldmine.

Tata Group is reviving its struggling telecom venture, Tata Tele. The decision comes after the group could neither sell off or merge the business. Tata Tele is part of a potential restructuring at the Group. The company along with TCS iON will be subsumed under its new SME e-marketplace, Tata Business Hub. The telecom venture may be a cog in the group's digital flywheel. Also, there are plans to use Tata Tele’s reach in SMEs to cross-sell products. In a couple of years, Tata may bring all its digital assets under a single entity, creating a structure similar to Jio Platforms.
 
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Kumata

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Virgin mobile is missing..and if IRC, cell one was BSNL brand only.. it was not a separate operator.

I am preying for the day when they get provatised. Will be fun watching babus slogging in field siging trenches for laying fibre and getting into gutter for fibre splicing...
 

Kumata

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BSNL provides services to the military as well, hence no.
They Just provide the physical medium .. aka fibre that too is under separate entity. rest all army do not depends on useless babus for anything....

IMO, govt shud hive off these to DOT separately and sell of rest to pvt operator. Some body with right mind set can reap gold out of them...given their reach. specially rural broad band as WFH becomes mainstream... asssholes have no competition but are busy destroying cane chairs...
 

Haldilal

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Virgin mobile is missing..and if IRC, cell one was BSNL brand only.. it was not a separate operator.

I am preying for the day when they get provatised. Will be fun watching babus slogging in field siging trenches for laying fibre and getting into gutter for fibre splicing...
Ya'll Nibbiars two brands are missing the one you metioned and the Orange. And it's about brand's not just Mobile operator's.
 

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