NALCO pays Rs.187 crore advance income tax

December 17th, 2010 - 8:26 pm ICT by IANS  

hubaneswar, Dec 17 (IANS) State-owned National Aluminium Company Limited (NALCO) has paid advance income tax of Rs.187 crore for the third quarter of 2010-11 as against Rs.65 crore in the corresponding quarter last fiscal, the company said Friday. The Bhubaneswar-headquartered NALCO is India’s leading manufacturer and exporter of alumina and aluminium.

It has paid Rs.356 crore as advance tax up to third quarter compared to Rs.140 crore during the corresponding period in 2009-10, the company said in a statement.

The increased tax pay-out is primarily due to the turnaround by the company and improved market conditions, which have now recovered from global recessionary impact which had hit hard the commodity sector, mainly metals, according to the statement.

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