NALCO's Q2 earnings beat estimates on all parameters and the company's aluminium EBIT has turned positive this quarter. Sridhar Patra, Chairman and MD of NALCO, discussed the company’s quarterly results.
“Q3 will continue to be good for aluminium business. The company will also have profit,” he said.
Till H1 results the company is EBITDA positive, he said. Manpower deployment due to COVID-19 has forced the company to scale down the production. However, the company management is confident that the situation is normalising. “We are hopeful, we are operating above 100 percent of our capacity,” he added.
The company has received all the statutory clearances for coal mine Utkal D, he said. “We are quite hopeful that the lease agreement will be signed and we will put all the efforts to make Utkal D operational this year. We are hopeful that within a year to a year and a half we will make Utkal E also operational.”.
“At present the coal mine charges that Coal India is giving are comparatively lesser because of the sluggish market,” he further added.