NALCO Reports 83.6% YoY Jump in Q3 Net Profit, Approves Second Interim Dividend

14 Feb 2024 , 02:26 PM

National Aluminium Company Ltd (NALCO) reported a significant 83.6% YoY increase in net profit, reaching ₹470.6 Crore for the third quarter ending December 31, 2023. In the corresponding quarter of the previous year, NALCO had posted a net profit of ₹256.3 Crore.

The company’s revenue from operations showed a 1.5% growth, reaching ₹3,346.9 Crore compared to ₹3,297.2 Crore in the same period the previous fiscal. At the operating level, EBITDA surged by 66% to ₹773.1 Crore in the third quarter of the current fiscal, up from ₹465.6 Crore in the corresponding period of the previous fiscal.

The EBITDA margin for the reporting quarter stood at 23.1%, a substantial increase from 14.1% in the same period of the previous fiscal. The board of directors approved the payment of the second interim dividend of ₹2 per share (40% on face value of ₹5 each) on the paid-up equity share capital of ₹918.32 Crore for the financial year 2023-24.

The record date for the payment of the second interim dividend is set for Friday, February 23, 2024.

National Aluminium Company Limited (NALCO) is a Navratna PSU, operating as one of the largest integrated bauxite-alumina-aluminum-power complexes in the country.

The market closed with NALCO shares at ₹142, marking a decrease of ₹1.35, or 0.94%, on the BSE.

NALCO, incorporated in 1981, is an Indian public sector company with integrated and diversified operations in mining, metal, and power. The Government of India holds a 51.28% equity stake, while the Ministry of Mines has administrative control over the company. It operates one of the largest integrated bauxite–alumina–aluminium–power complexes in the country, covering bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail, and port operations.

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