NALCO holds recruitment of 700 posts
Navratna PSU National Aluminium Company Company Limited (Nalco) has put on hold the recruitment of about 700 employees in order to cut it operating expenses. The fall in the demand and price for metal made the company to adopt cost cut measures.
Nalco is the leading aluminium producer in India. Most of the companies and PSUs have been adopting cost cut measures due to the global financial meltdown. However, recruitment by Naclo has been put on temporary hold.
Nalco has embarked on a Rs 4,400-crore expansion to scale up its aluminium capacity to 4.6 lakh tonnes from 3.5 lakh tonnes by August. The company is in the process of augmenting its alumina capacity to 2.1 million tonnes from 1.5 million tonnes by March.
Due to the fall in price and demand Nalco posted a 33 per cent decline in its net profit at Rs 219.46 crore for the quarter ended December.
Nalco is the leading aluminium producer in India. Most of the companies and PSUs have been adopting cost cut measures due to the global financial meltdown. However, recruitment by Naclo has been put on temporary hold.
Nalco has embarked on a Rs 4,400-crore expansion to scale up its aluminium capacity to 4.6 lakh tonnes from 3.5 lakh tonnes by August. The company is in the process of augmenting its alumina capacity to 2.1 million tonnes from 1.5 million tonnes by March.
Due to the fall in price and demand Nalco posted a 33 per cent decline in its net profit at Rs 219.46 crore for the quarter ended December.
posted by Neel @ 11:36 AM
0 Comments
0 Comments:
Post a Comment
<< Home