On Wednesday, the shares of one of Asia’s top aluminum manufacturers rose 8.5% to an intraday high of ₹155.35 per share. After the company reported a 151% increase in net profit on a quarterly basis.
At 12:25 p.m., National Aluminium Company Ltd shares were trading at ₹155.15 per share, up 9.26 % from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹28,495 crore.
According to the consolidated basis, National Aluminium Company Ltd (NALCO) experienced a marginal increase of revenue by 1.1% year-on-year, rising from ₹3,357.71 crore in Q3FY23 to ₹3,397.87 crore in Q3FY24. Similarly, during the same period, net profit increased by 84% from ₹256.32 crore to ₹470.61 crore.
In comparison to the preceding quarter, operational revenue increased by 9 percent, increasing from ₹3,112.02 crores in Q2FY24 to ₹3,397.87 crores in Q3FY24. Additionally, net profit surged by 151% from ₹187.35 crores to ₹470.61 crores during this timeframe, as reported in the company’s exchange filing.
The EBITDA margin was 23.1% in the December quarter, up from 14.1% from the corresponding previous year’s quarter. EBITDA is earnings before interest, taxes, depreciation, and amortisation.
The Board of Directors approved an interim dividend of ₹.2 per share (40% on face value of ₹ 5/- each) on the paid-up equity share capital of ₹ 918.32 crores for the fiscal year 2023-24. And fixed February 23, 2024, as the ‘Record Date’ for the payment of the interim dividend.
On the production front, NALCO has achieved strong growth with highest highest-ever cumulative metal production of 3,45,086 MT. Similarly, on the sales front, the company has also achieved the highest-ever cumulative metal sale of 3,49,419 MT, during the first nine months of the current fiscal.
National Aluminium Company Limited (NALCO) is a Navaratna Central Public Sector Enterprise (CPSE) under the Ministry of Mines. The company manufactures and sells Alumina and Aluminium and it is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in India.
National Aluminium Company Ltd shares have witnessed a gain of 69% in the last six months and 95% in a year.
Written by Omkar Chitnis
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