Bhubaneswar : Buoyed by two-fold jump in net profit to Rs 1,342 crore last fiscal, state-owned NALCO on Sunday announced plans to invest over Rs 30,000 crore to launch a host of new projects and undertake expansion.
“Nalco achieved highest net profit in last 10 years of Rs 1,342 crore in 2017-18 against Rs 669 crore in previous year. The profit registered more than 100 per cent growth,” CMD of Nalco Tapan Kumar Chand said.
The firm was the third highest net foreign exchange earning central public sector enterprise in the country, while its net sales turnover was Rs 9,377 crore, highest-ever since inception, logging a growth of 26 per cent over last year, he said. Similarly, export earning of Rs 4,076 crore was also highest-ever since inception posting a 12 per cent growth over last year, he said. “2017-18 has been a very rewarding year for Nalco on all fronts. We are looking beyond earning just profits. We have improved on all parameters — record production, highest sales and turnover.”
Chand said the company is all set to invest Rs 30,000 crore over the next four years to launch a number of new projects and undertake major expansion programmes.
