2019-2020 a year of mixed results for NALCO CMD

    Bhubaneswar, Sep 30 (PTI) Public sector aluminium
major NALCO on Wednesday said it continued to be an industry
leader promoting inclusive growth and productivity in its
plants as well as mines despite COVID-19 pandemic and economic
downturn.
    Speaking at the 39th Annual General Meeting of the
Navaratna company held on virtual platform, CMD Sridhar Patra
said the year 2019-20 has been a year of mixed results for
National Aluminium Company (NALCO).
    "In spite of an extremely challenging business
environment, coupled with slump in prices and onset of COVID-
19 pandemic in the last quarter of the year, we have made
exemplary contributions in promoting and putting focus on
plant, production, productivity and people," Patra said.
    He said that sustainability has now become a part of
NALCO's key business processes. The CMD said the year was a
testimony to the company being a partner in progress in
promoting inclusive growth as an industry leader and spreading
happiness amongst people.
    The outbreak of COVID-19 pandemic has aggravated the
situation with lockdowns /shutdown, which resulted in further
downward movement of price of both alumina and aluminium, he
said.
    "After Q1 of 2020-21 there are some signs of recovery
with easing of restrictions and resumption of economic
activities. This gives rays of hope for better financial
performance," the NALCO CMD said.
    While downward price movement, coupled with COVID-19
pandemic had resulted in lower turnover and profit during
2019-20, furtherance to declaration of unlock, the economic
activities have resumed partially and market demand has
partially picked up. However, it will take some more time to
attain a normal business situation, Patra said.
    Describing 2019-20 as a year of stellar performances
in terms of production and productivity under challenging
business environments, he said NALCO has once again proved its
mettle by registering record performance in terms of physical
performances.
    Referring to physical performance, Patra said mines
achieved 73.02 lakh tonnes of bauxite transportation which is
highest ever since inception.
    Similarly, alumina refinery has achieved 102.9 per
cent of normative capacity - 21 lakh tone - with production of
21.61 lakh tonnes of alumina hydrate, which is also the
highest ever since inception, he said.
    Aluminium Smelter has achieved metal production of
4.18 lakh tonne in 2019-20 which was optimised considering the
availability of coal and price of aluminium, he said, adding
that aluminium smelter has achieved lowest ever DC energy
consumption of 13,367 KWh/tonne and lowest ever net carbon
consumption of 422.8 Kg/tonne.
    The company has been rated as the lowest cost producer
of bauxite and alumina in the world for the year 2019 by Wood
Mackenzie, he said. PTI SKN
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(This story has not been edited by THE WEEK and is auto-generated from PTI)