Nalco news: National Aluminum Company Ltd. (NALCO) said on Tuesday that the US fee would not affect its business. The company also said that it is focusing on trade with Britain, where the fee is zero. Brijendra Pratap Singh, Chairman and Managing Director (CMD) of Nalco said here that the company’s net profit on a single basis increased by 77 percent to Rs 1,064 crore in the first quarter of the current financial year as against Rs 601 crore in the first quarter of the previous financial year.Also Read: Selling arms to India risky, White House advisor gives advice to Donald Trump
Operating revenue in the first quarter was Rs 3,807 crore: He said that operating revenue in the first quarter of FY 2025-26 was Rs 3,807 crore. Singh said that the UK has a strong market for electric vehicles and solar panel construction and both are very much dependent on aluminum. This offers us an important opportunity to increase our appearance. He said that the US fee increase will not have any effect on Nalco’s business but we are looking for opportunities in Britain, where the fee is zero.
Singh said that in the first quarter of FY 2025-26, the company has recorded the most domestic sales of alumina and aluminum so far on the basis of strong growth in both domestic and export markets. He said that the company is planning to start operating its Pottangi bauxite mines in Koraput district of Odisha by June next year.Also Read: Why did the trump make your mouth to get the Nobel Prize of Peace
Singh said that the tender for Pottangi bauxite mines will be provided by September or October this year and the mines are expected to start operating by next June. Spread over a total of 697.98 hectares, the annual production capacity of this block is 35 lakh tonnes and its estimated reserves are 11.1 million tonnes. (Language)
Edited by: Ravindra Gupta
