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Navratna PSU Nalco approves 35 % dividend for shareholders, registers net profit of Rs 1322 crore

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Navratna PSU Nalco approves 35 % dividend for shareholders, registers net profit of Rs 1322 crore

Navratna PSU Nalco approves 35 % dividend for shareholders,  registers net profit of Rs 1322 crore
October 01
16:56 2015

 

BY OUR CORRESPONDENT

BHUBANESWAR, SEPT. 27: The shareholders of National Aluminium Company Limited (NALCO), a Navratna public sector unit under the Union ministry of mines have approved a total dividend payout of 35 per cent which works out to Rs 1.75 per share.

The total payout is Rs 451.02 crore as dividend, including Rs 4598.99 crore as share of Government of India.

Sharing details with the media about the performance of the company after the annual general meeting held here Saturday, Nalco chairman and managing director T.K Chand said the company had registered a net profit of Rs 1322 crore in 2014-15, 17 per cent higher than the previous fiscal.

“In 2014-15, we also registered the highest ever gross turnover of Rs 7,771 crore and export turnover of Rs 3,307 crore. Besides, our bauxite production reached an all time high of 57.39 lakh tones during this period,” Mr Chand informed.

With regard to the future plans of the PSU, the CMD said the company planned to invest Rs 32,000 crore to Rs 35,000 crore for setting up the second refinery unit at Damonjodi in Koraput district and a smelter unit in Sundergarh district of Odisha.

To query on setting up refinery and smelter units overseas, Mr Chand said a consultancy firm engaged to scout for possible countries had suggested names of Iran, Oman and Indonesia.

“After due consultation, we will take a call on this respect. The main consideration will be cheap power and good infrastructure,” the CMD said

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