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Business EconomyPosted at: Feb 22 2019 6:29PM


NALCO sets a target to achieve a net profit of Rs.2000 crore by 2020- CMD

Bhubaneswar, Feb 22 (UNI) The Public sector NALCO is all set to scale higher on financial front and set a target to achieve a net profit of over Rs. 2000 crore by 2020 and Rs. 2500 crore in the next three years.
Inaugurating the 5th National management conference at Asian School of Business Management, today, NALCO CMD Tapan Kumar Chand said when the global economy was reeling under economic slowdown, with the metal sector being affected the worst, NALCO doubled its net profit from Rs.669 crore in FY 2016-17 to Rs.1342 crore in FY 2017-18.
All this was possible because the company took a conscious decision of introducing an all weather business model that focuses on benchmarking & quantification.
With the business model in place, the company doubled its profit, Mr Chanda said adding the company is all set to scale higher on financial front and envisages achieving a net profit of more than Rs. 2000 crore by 2020.
The NALCO CMD said achievements give motivation and purpose gives objectivity to any organisation but to remain sustainable and successful, business organizations need to have insulation from detrimental effects of business environment.
"One must remain well aware in advance of the changes in technology, statutory regulations and preferences of the customers,”Mr. Chand said while sharing the success story of NALCO.
He further said to retain business excellence, NALCO has consistently been working on with focus on sustainability through innovation,adoption of new technology, lower production cost and nurturing its human resources.
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