Nalco's Profit Skyrockets with Five-Fold Increase

Nalco, a state-owned enterprise, reported a significant increase in profit, achieving over five times the previous year's earnings. This growth is attributed to a surge in operational revenue. The interim dividend per share has been approved, reflecting the company's robust financial performance.

Nalco, a state-owned company, announced on Wednesday a significant rise in its consolidated profit, which increased more than five-fold to Rs 1,045.97 crore during the September quarter of 2024. This remarkable growth was driven by higher revenue from operations.

In the corresponding period of the previous year, the National Aluminium Company Ltd (Nalco) had reported a consolidated profit of Rs 187.35 crore, according to a filing with the stock exchange. During the recent July-September period, consolidated revenue from operations rose to Rs 4,001.48 crore, up from Rs 3,043.83 crore recorded a year earlier.

The board of the 'Navratna' company has sanctioned an interim dividend of Rs 4 per share for the current financial year. The central government holds a 51.28% stake in Nalco, which operates the Panchpatmali Bauxite Mines for its alumina refinery in Damanjodi, Odisha, along with an aluminium smelter and captive power plant in Angul.

(With inputs from agencies.)