Shares of NALCO, a PSU firm engaged in alumina and aluminum manufacturing and sales, soared 6.1% to reach a historic peak of ₹206.30 apiece in early morning trading today.
This comes after the company’s robust performance for Q4 and the full fiscal year (FY24).
State-owned Nalco on Monday reported a two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses.
The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE.
However, the consolidated total income during the quarter dropped to Rs 3,663.09 crore from Rs 3,726.76 crore in the year-ago period.
The expenses of the company in the fourth quarter of FY24 dropped to Rs 2,720.42 crore from Rs 3,160.50 crore a year earlier.
Nalco is a Navratna PSU under the ministry of mines. It is one of the largest integrated bauxite-alumina-aluminium-power complex in the country.
The company has formed a JV company — Angul Aluminium Park Pvt Ltd’ (AAPPL) — with Odisha Industrial Infrastructure Development Corporation (IDCO) to give a boost to ancillary, upstream and downstream products related to the aluminum industry.
Comments
0 comment