National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, Government of India, has announced the signing of the Mining Lease deed for the amalgamated Utkal-D and Utkal-E Coal Blocks.
The deed was signed with the District Collector of Angul on December 24, 2024, in the presence of key NALCO officials. This move is set to enhance NALCO’s coal production capacity to 4.0 MTPA, bolstering fuel security for its Captive Power Plant. The lease is valid until April 21, 2051, securing a long-term supply of coal for the company’s operations.
NALCO has posted remarkable financial results for Q2 FY2025. The company achieved a 415% growth in net profit, reaching ₹1,062 crore, compared to ₹206 crore during the same period last year. This surge in profitability highlights NALCO’s strong performance despite challenging market conditions.
NALCO’s total income from operations during the quarter stood at ₹4,001 crore, marking a 32% growth compared to ₹3,044 crore in Q2 FY2023. This increase in revenue was driven by higher aluminium prices and efficient operations.
National Aluminium Company Limited was incorporated in 1981. The company is involved in the manufacturing and selling of Alumina and Aluminium.
On December 26, 2024, NALCO share price opened at ₹216.69, touching the day’s high at ₹217.17, as of 9:33 AM on the NSE.
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Published on: Dec 26, 2024, 9:37 AM IST
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