Nalco pays Rs 476 cr advance tax for FY11

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Press Trust of India Bhubaneswar
Last Updated : Jan 20 2013 | 8:04 PM IST

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.

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First Published: Mar 17 2011 | 7:32 PM IST

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