Nalco's profit in March quarter increases twofold to Rs 996.7 crore

28 May 2024 , 10:00 AM

Nalco, a Navaratna PSU miner, reported robust Q4FY24 results, with a net profit of ₹996.70 Crore, doubling from a year ago.

Revenue saw a slight dip of 2.5% year-on-year, reaching ₹3,579 Crore, while the margin surged to 30.9% compared to 20.9% in the fourth quarter of the previous year. The company proposed a final dividend of ₹6 per share.

At the time of writing, shares of Nalco were trading at ₹199.15 which is a 2.47% gain than the previous close. The stock has gained 131% in the last one year, and 63% since the beginning of the year.

Nalco’s CMD, Sridhar Patra, highlighted ambitious growth outlook and achievements, emphasizing backward integration and securitization of energy and bauxite. In the last fiscal, Nalco achieved its highest-ever metal sales and recorded a peak in bauxite excavation.

Lower prices of thermal coal and bauxite contributed to controlled expenses, with overall expenses decreasing to ₹27.20 billion from ₹31.61 billion due to a 22% decline in raw material costs. Revenue from operations dropped by 2.5% to ₹35.79 billion.

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