National Aluminium Company (NALCO) share price gained more than 8% during the intraday trades on Wednesday following strong Q3 performance reported by the company. During the December quarter NALCO, the Navratna PSU saw its net profit rise 78 % to ₹488.47 Crore compared to ₹273.85 crore in the year ago quarte Crore in the previous quate year-ago quarter. Notably the net profit rose 137% over ₹206 crore reported by NALCO in the previous quarter.
NALCO revenues from operations at s 3346.90 crore though could grow only 1.5% year-on-year as Aluminium prices remained subdued, however the declining raw material costs and power costs. NALCO Earnings before interest tax (EBIT) improved by 69% year-on-year and 137% sequentially to ₹479 Crore. The strong operating performance though was led by Aluminium segment that contributes almost two-third to the overall revenues , however Chemical segment too saw significant improvement in operating performance.
EBIT for Aluminium segment while grew 137% sequentially and 68.5% year-on-year, chemical segment EBIT also grew multifold. Also read- Paytm share price cracks 10% to hit 52-week low; analysts say avoid the stock On production front, NALCO achieved strong growth with highest ever cumulative metal production of 3,45,086 MT (metric tonne). Similarly, on sales front, NACLO achieved highest ever cumulative metal sale of 3,49,419 MT.
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