National Aluminium Company (NALCO) added 1.01% to Rs 215.75 after the company announced the signing of mining lease deed for amalgamated Utkal-D and Utkal-E coal block.
In an exchange filing made post trading hours on Tuesday, the company informed about the signing of mining lease deed for amalgamated Utkal-D and Utkal-E coal block located in Angul district, Odisha.
The lease would help the company to enhance the coal production capacity of NALCO to 4.0 MTPA, which will boost fuel security to the captive power plant. The lease deed is valid upto 21 April 2051.
National Aluminium Company (NALCO) is a schedule A' Navratna CPSE established. It is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the country. At present, Government of India holds 51.28% of paid up equity capital. The company has been operating its captive Panchpatmali Bauxite Mines for the pit head Alumina refinery at Damanjodi, in the District of Koraput in Odisha and Aluminium Smelter & Captive Power Plant at Angul.
The company had reported 414.97% surge in standalone net profit to Rs 1,062.18 crore in Q2 FY25 as against Rs 206.26 crore recorded in Q2 FY24. Revenue from operations jumped 31.46% YoY to Rs 4,001.48 crore in the quarter ended 30 September 2024.
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