November 28, 2001

        Union Minister for Coal and Mines Shri Ram Vilas Paswan was presented today a cheque for Rs.224.60 crore as the Government’s share of the dividend by Shri S.C Tripathi, Chairman cum Managing Director of National Aluminium Company Ltd. (NALCO) a flag ship PSU under the Ministry of Coal and Mines in the presence of senior officials from the Ministry and Nalco. Nalco has paid 40 per cent dividend for the year 2000-01. The Government holds 87.15 per cent equity in Nalco. The Company’s total dividend pay out of Rs.257.72 crore works out to 39.30 per cent of the net profit of Rs.655.83 crore posted for the year.

        Nalco with its profitable operations has cumulatively paid Rs.739.82 crore to the Government in terms of dividends, Rs. 561.52 crore through issue of redeemable non-convertible debentures on account of capital reduction. The Corporate Income Tax paid to the Government on profits, dividends and Capital restructuring since 1992-93 amounted to Rs. 736.05 crore. Thus, a total of Rs.2037.39 crore has so far been paid to Government as dividend and income tax during last eight years of operation.

        For the year 2000-01, Nalco had reported a sales turnover of Rs. 2408.60 crore representing an increase of 12.43 per cent over the previous fiscal. The export earnings had gone up by 27.39 per cent to a level of Rs.1314.20 crore.