Bhubaneswar: National Aluminium Company Limited (Nalco) has posted an impressive 415 percent growth in net profit for the quarter ended September 2024 at Rs. 1062 crore, compared to Rs. 206 crore achieved during corresponding period of last year.
According to the results taken on record at a meeting of the Board of Directors in Bhubaneswar Wednesday,the total income of the company during the quarter from operations stood at Rs.4001 crore registering 32 percent growth over Q2 of FY 23-24, which was Rs. 3044 crore.
Nalco has also shown robust performance in the first half of the current financial year with a 199 percent growth net profit soaring to Rs. 1663 crore as against Rs.556 crore for the in corresponding period of previous year. It may be mentioned that Nalco has achieved its best- ever performance in domestic metal sales for the first half of the year (H1), recording the highest cumulative domestic metal sales of 2,21,966 MT during this period.
The company has also announced an interim dividend of Rs.4 per equity share (80% on the face value of Rs.5 each) amounting to Rs.734.65 crore for FY 2024-25.
The results during Q2 of FY 25 were driven primarily by improvement in operational efficiency, higher aluminum prices coupled with positive domestic business environment.
Nalco CMD Sanjay Lohiya said that the Q2 results is a testament to the hard work and dedication of our employees, partners, and stakeholders and the collective ability to adapt and navigate market challenges. As we move forward, we will continue to build on this momentum, drive operational excellence, and explore new opportunities to enhance our market position, he said. I am confident that together, we will further strengthen Nalco’s position, create more values, and continue delivering exceptional results in the coming quarters.
