NALCO reported earnings for the June-ended quarter. Sridhar Patra, CMD of the company, discussed the earnings and the outlook going ahead.

The company has sold 91,000 tonne of metals in Q1FY22 against 71,000 of the corresponding previous year.

2.86 lakh tonne of alumina was also sold in Q1FY22, he said. “For the year, around 12 lakh tonne of alumina will be sold and the company is confident of achieving that,” he mentioned.

There was a gradual decline in employee cost as people were retiring. “Now we have taken a very conservative approach. With the reduction in the interest rate basically the long-term benefit that we calculate, that liability is likely to be changed. We are quite confident that the employee cost will be within acceptable range with comparison to previous year,” he explained.

He expects employee cost to increase 5-6 percent per annum.

The one million tonne alumina capacity is expected to come onstream in FY23-FY24.

(Edited by : Aditi Gautam)

First Published:Aug 9, 2021 3:15 PM IST