Bhubaneswar, 26/12/2024: NALCO’s stock increased by 1.01% to ₹215.75 after it announced the signing of a mining lease for the Utkal-D and Utkal-E coal blocks in Angul district, Odisha.
The agreement, announced after trading hours on Tuesday, will raise NALCO’s coal production capacity to 4.0 million tonnes per year, improving fuel supply for its captive power plant. The lease is valid until 21 April 2051.
National Aluminium Company (NALCO) is a ‘Schedule A’ Navratna Public Sector Enterprise (CPSE) and one of the largest integrated Bauxite-Alumina-Aluminium-Power complexes in India. The Government of India currently holds 51.28% of its paid-up equity capital. NALCO operates the Panchpatmali Bauxite Mines, which supply raw material to its alumina refinery at Damanjodi in Koraput district, Odisha. The company also runs an aluminium smelter and a captive power plant at Angul, Odisha.
National Aluminium Company (NALCO) reported a remarkable 414.97% increase in standalone net profit, reaching ₹1,062.18 crore in Q2 FY25, compared to ₹206.26 crore in the same quarter last year. The company’s revenue from operations also saw a significant rise, growing by 31.46% year-on-year to ₹4,001.48 crore for the quarter ending 30 September 2024.
