National Aluminium Company Limited (NALCO) witnessed a significant surge of nearly 8% in its shares following an impressive performance in the third quarter of the fiscal year. The state-owned company reported a remarkable 83.6% year-on-year increase in net profit, reaching ₹470.6 crore for the quarter ended December 31, 2023.
Compared to the corresponding period last year, NALCO’s revenue from operations also saw growth, rising by 1.5% to ₹3,346.9 crore from ₹3,297.2 crore. The notable highlight of the quarter was the substantial improvement in operating profit, with EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) surging by 66% to ₹773.1 crore compared to ₹465.6 crore in the same period last fiscal.
An exceptional performance in profitability was reflected in the EBITDA margin, which stood at 23.1% for the quarter, a significant increase from 14.1% in the corresponding period of the previous fiscal year.
In a move to reward its shareholders, the board of directors approved the payment of the second interim dividend of ₹2 per share (40% on face value of ₹5 each) on the paid-up equity share capital of ₹918.32 crore for the financial year 2023-24. The record date for the dividend payout has been fixed for Friday, February 23, 2024.
NALCO, a Navratna PSU, stands as one of the largest integrated bauxite-alumina-aluminum-power complexes in the country. The positive financial results have instilled confidence among investors, leading to a surge in the company’s shares, which were trading 7.71% higher at ₹152.90 as of 10:53 am.
