NALCO shares surge over 6% to new all-time high as net profit rises two-fold in Q4, up 118% in 6 months

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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, driven by the company's robust performance for Q4 and the full fiscal year (FY24).On Monday, the company reported a 101% YoY surge in its consolidated profit to ₹996.74 crore for the March quarter, propelled by a significant drop in expenses, which declined by 14% YoY to ₹2,720 crore in Q4. This starkly contrasts with the net profit of ₹495 crore reported in the corresponding period last year.Also Read: How does the BSE 500 index offer exposure to a wide basket of stocks?For FY24, it reported a PAT of ₹1,988 crore, a 38.63% improvement compared to the previous fiscal year's PAT of ₹1,434 crore.

The company reported 1.6% YoY drop in revenue from operations to ₹3,663 crore in the March quarter and witnessed a 7.5% YoY decline in revenues to ₹13,399 crore for the full fiscal year.During the past six months, the company's shares have embarked on a bullish trajectory, soaring from ₹92 apiece to the current trading price of ₹201, marking an impressive multi-bagger rally of 118%. This remarkable surge is attributed to the significant uptick in global aluminium prices, driven by supply disruptions and a resurgence in the Chinese economy.NALCO was a Schedule ‘A’ Navratna CPSE on January 7, 1981.