National Aluminium Company Limited (NALCO), an Indian state-owned aluminum giant, reported its consolidated net profit grew by 76% year on year to Rs 5.88 billion in the first quarter of the fiscal year 2025, driven by declined costs and higher aluminum prices.

Due to supply concerns and the increased demand, the price of global base metals, including aluminum, have risen significantly, thereby pushing up the selling price of metals also helping boost profits for mining companies.

In the fiscal year 2024, NALCO achieved record-setting milestone across various sectors. The output of cast metal reached the unprecedented 0.46 million tons, bauxite mining volume was 7.6 million tons, and metal sales hit the highest-ever at 0.47 million tons.

India’s credit rating agency ICRA said that domestic aluminum demand growth in India was expected to remain stable due to strong future demand from the electrical and construction sectors and recovering demand for consumer durables.