Nalco posts Rs 520.92 cr net profit

National aluminium company ltd (Nalco) has earned a profit after tax of Rs 520.92 crore during 2002-03, according to the company’s CMD C. Venkataramana. The company’s shareholders had approved a dividend of 60 per cent for the fiscal on the paid up capital of Rs 644.31 crore which amounted to Rs 386.59 crore, he said. In addition, Nalco would pay Rs 49.53 crore towards dividend tax, he said adding the dividend and dividend tax would be 84 per cent of the profit after tax.

Nalco was contemplating another round of capacity expansion involving further investment of Rs 4,000 crore. The fresh expansion programme envisaged raising the capacity of bauxite mines to 63 lakh tonne, alumina capacity to 21 lakh tonne, aluminium capacity to 4.60 lakh tonne and installed capacity of the captive power plant (cpp) to 1200 mw, Venkataramana said. ‘‘We expect to have the clearance in six months time’’, he said.