NALCO pays increased advance tax of Rs 187 crore

Navratna PSU Nalco has paid advance income tax of Rs 187 crore for the third quarter of 2010-11, as against Rs 65 crore paid during the corresponding period last fiscal, a release said today.

NALCO has paid a higher amount of Rs 356 crore for advance tax up to third quarter of the current financial year, as compared to Rs 140 crore paid during the corresponding period of 2009-10, it said.

The increased tax pay-out was primarily due to the turnaround by the company and improved market conditions, which have now recovered from global recessionary impact.