Navratna PSU National Aluminium Company (Nalco) today said it has paid Rs 476 crore as advance income tax for the financial year 2010-11, as against Rs 295 crore paid for the last fiscal.
The increased tax payout is primarily due to improved market conditions and better performance on funds management, a company release said here today.
It was made possible after off-setting increased expenditure on coal due to price revision by Mahanadi Coalfields and procuring from non-linkage expensive sources and higher payout of royalty to state government, it said.