Shares of National Aluminium Company, or NALCO, increased in early trading on November 14 following the state-owned metals company’s announcement of a five-fold increase in net earnings for the September quarter. In comparison to the same quarter of the previous fiscal year, when it reported a net profit of Rs 206.3 crore, the National Aluminium Company reported a net profit of Rs 1,062.2 crore for the quarter, a 415.4 percent increase.
NALCO Q2 Results
State-owned Nalco reported on Wednesday that increased operating revenue caused its consolidated profit to more than five times, to Rs 1,045.97 crore, for the quarter that ended in September 2024. According to National Aluminium Company Ltd. (Nalco), the company reported a consolidated profit of Rs 187.35 crore for the previous year in a stock exchange filing. According to the report, consolidated revenue from operations increased from Rs 3,043.83 crore in the previous year to Rs 4,001.48 crore in the most recent July-September period. An interim dividend of Rs 4 per share for the current fiscal year has been approved by the company’s board.
NALCO share price
Thursday’s opening price of ₹229.80 for NALCO shares on the BSE was over 4.5 percent higher than the closing price of ₹219.80 for the previous day. The price of NALCO shares then increased even more, reaching an intraday high of ₹230.75, representing gains of about 5%. Investors have received multibagger returns thanks to the NALCO share price, which has increased by more than 139% in the past year.
A ‘Navratna’ corporation is Nalco. At the moment, 51.28 percent of Nalco’s equity capital is owned by the central government. The company has been running the aluminum smelter and captive power plant at Angul, as well as the captive Panchpatmali Bauxite Mines for the pit head alumina refinery at Damanjodi in the District of Koraput in Odisha.
