Buoyed by two-fold jump in net profit to Rs 1,342 crore last fiscal, the state-owned NALCO today announced plans to invest over Rs 30,000 crore to launch a host of new projects and undetake expansion.
"NALCO achieved highest net profit in last 10 years of Rs 1,342 crore during 2017-18 against Rs 669 crore in previous year .. the profit registered more than 100 per cent growth," CMD of NALCO Tapan Kumar Chand told reporters here.
The Navaratna company was the third highest net foreign exchange earning central public sector enterprise (CPSE) in the country, while its net sales turnover for the year was Rs 9,377 crore, highest-ever since inception, registering a growth of 26 per cent over last year, Chand said.
Similarly, export earning of Rs 4,076 crore was also highest-ever since inception registering a growth of 12 per cent over last year, he said adding, "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."
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