Nalco Jul-Sep net profit more than doubles to Rs 510 cr
The company had clocked a net profit of Rs 234.63 crore during the same quarter a year ago
November 12, 2018 / 11:18 PM IST
We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies. Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)
Aluminium major Nalco said its net profit more than doubled to Rs 510 crore during the quarter ended September 30, 2018, helped by a 23 percent rise in its revenue.
The National Aluminium Company (Nalco) had clocked a net profit of Rs 234.63 crore during the same quarter a year ago, the company said in a BSE filing.
Its total income rose to Rs 3,131.20 crore during July-September 2018 from Rs 2,535.73 crore in the year-ago quarter, a jump of over 23 percent.
Its total expenses were marginally higher by 3 percent at Rs 2,306.59 crore in the second quarter of 2018-19 compared to Rs 2,232.06 crore during July-September of 2017-18 fiscal.
National Aluminium Company Limited is a Navratna CPSE under the Ministry of Mines. The company has integrated and diversified operations in mining, metal and power.
Presently, the government holds 56.59 percent equity of NALCO.
Shares of the company ended 1.28 percent down at Rs 69.45 apiece on BSE.