National Aluminium Company Limited (NALCO) saw its shares surge 2% following a strong performance in the fourth quarter of FY24. The Navaratna PSU miner reported a net profit of ₹996.70 crore, doubling its profit from the same period last year.
Despite a slight dip in revenue, down 2.5% year-on-year to ₹3,579 crore, the company’s margin improved significantly to 30.9%, up from 20.9% a year ago. NALCO also announced a final dividend of ₹6 per share.
As of 9:58 am the shares were trading 2.75% higher at ₹199.70 on NSE
Last fiscal year, NALCO achieved its highest-ever metal sales at 4,70,108 metric tonnes and set a record for bauxite excavation. The company managed to keep expenses in check, benefiting from lower prices of thermal coal and bauxite by sourcing more domestically. Overall expenses dropped to ₹27.20 billion from ₹31.61 billion, with a 22% decline in raw material costs.
Although revenue from operations fell 2.5% to ₹35.79 billion, the decrease in costs helped offset the impact of lower aluminium prices. The benchmark three-month aluminium price on the London Metal Exchange averaged $2,241 per metric ton in January-March, down 8.2% from the previous year.
