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National Aluminium Company (Nalco) posted 106 per cent jump in its net profit for the year ended March 31, 2015 at Rs 1322 crore as against Rs 642 crore achieved by the company in the year ago fiscal.
During 2014-15, the navratna company achieved its highest ever gross turnover of Rs 7771 crore, 10.63 per cent higher than Rs 7024 crore recorded in 2013-14. Nalco's previous best turnover was Rs 7247 crore which it achieved in 2012-13.
Nalco also logged an export turnover of Rs 3307 crore in 2014-15.
The company's aluminium smelter near Angul produced 327,000 tonne of cast metal production, marginally higher than 316,000 tonne in 2013-14. Its alumina hydrate production in the same period, however, fell to 1.85 million tonne from 1.92 million tonne. The captive power plant (CPP) generated 5131 million units (MU) of power compared to 4989 MU in 2013-14.
In the renewable energy space, Nalco generated 175 MU of wind energy during FY 15 by operation of a 50.4 Mw wind power plant at Gandikota, Andhra Pradesh and another 47.6 Mw plant at Jaisalmer (Rajasthan).
During 2014-15, the company commissioned 260 KWp Rooftop Solar Power System at its corporate office and township, Bhubaneswar of which167 kilo unit solar energy has been generated.
The Nalco board has recommended final dividend at a rate of 10 per cent (Rs 0.50 per equity share of Rs five each) amounting to Rs 128.86 crore. Earlier, Nalco had declared an interim dividend of 25 per cent (or Rs 1.25 per share of Rs five each), amounting to Rs 322.16 crore for 2014-15, on the paid-up equity share capital of Rs 1288.62 crore.
On the investment front, Nalco has decided to set up a one million tonne alumina refinery at Damanjodi, Koraput at a proposed investment of Rs 5540 crore based on Pottangi bauxite deposit.
With a view to boost the ancillary and downstream industries, Nalco has also committed to supply 50,000 tonne of aluminium metal to 'Angul Aluminium Park' which has been formed as a joint venture between Nalco and Odisha Industrial Infrastructure Development Corporation (Idco). The company is also in an advanced stage of setting up of 100 Mw wind power plant at a suitable location with an estimated investment of Rs 660 crore.
