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NALCO posts higher than expected Q3 profits

Posted On: 2019-02-10 12:50:12

National Aluminium Company Limited (NALCO), the Navratna PSU, under Ministry of Mines, Govt. of India and country's leading manufacturer and exporter of alumina and aluminium, has declared its financial results for the 3rd quarter ended December 2018 and up to end 3rd quarter 2018-19.

According to the reviewed financial results for the 3rd quarter of the financial year 2018-19 taken on record by the Board in the meeting held at New Delhi today, NALCO has posted a higher than expected operating profit of 589 crore registering 80% growth over the same period of last year. Net profit of the company for the 3rd quarter is Rs.302 crore and the net profit for the period from April 2018 to December 2018 has grown to Rs.1499 crore as against 1085 crore of last year same period i.e. 38% growth.

The net sales for the 9 months of the fiscal are Rs.8,644 crore i.e. 32% growth over the same period of last year. NALCO has also achieved record growth in production in all fronts. During the first nine months of the current fiscal, NALCO achieved production of 55.39 lakh tonnes of bauxite, as compared to 54.40 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 15.92 lakh tonnes of alumina hydrate, against 15.51 lakh tonnes achieved in the corresponding period of the previous financial year.

Metal production was 3.29 lakh tonnes, against 3.17 lakh tonnes during the comparable nine months of the previous fiscal. The net power generated during the period was 4,580 million units.As a committed and responsible green power producer the company has generated 310 million units of wind power during the first 9 months of this fiscal.

Shares of NATIONAL ALUMINIUM CO.LTD. was last trading in BSE at Rs.59.25 as compared to the previous close of Rs. 58.85. The total number of shares traded during the day was 350342 in over 898 trades.

The stock hit an intraday high of Rs. 59.75 and intraday low of 58.65. The net turnover during the day was Rs. 20754478.


Source: Equity Bulls

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