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Last Updated : Nov 14, 2019 12:18 PM IST | Source: Moneycontrol.com

NALCO share price falls 6% after steep contraction in Q2 margin

Margin for the September quarter contracted to 1.37 percent against 28 percent in the same period last year as other expenses increased by 25 percent YoY.

 
 
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Share prices of National Aluminium Company (NALCO) dropped 5.7 percent intraday on November 14 after it reported a steep contraction in margin and net loss for the September quarter.

The stock has lost 37 percent in the last one year. It was quoting at Rs 42.50, down Re 1, or 2.30 percent, on the BSE at 1144 hours.

The state-owned company reported very weak results in the July-September quarter, posting a net loss of Rs 28 crore against a net profit of Rs 510 crore in the same period last year

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Revenue from operations degrew by 22.3 percent year-on-year to Rs 2,364 crore, while operating profit plunged 96 percent YoY to Rs 32 crore in the quarter.

Margin contracted to 1.37 percent against 28 percent in the same quarter last year, as other expenses increased by 25 percent YoY.

Aluminium revenue dropped 13 percent YoY and at EBIT level, the segment delivered a loss of Rs 120.9 crore (against loss Rs 246 crore) as lower LME and coal availability appeared to be the key problems.

Chemicals segment reported a 22 percent YoY decline in revenue and 79 percent fall in EBIT in the July-September period.

Share prices of National Aluminium Company (NALCO) dropped 5.7 percent intraday on November 14 after it reported a steep contraction in margin and net loss for the September quarter.

The stock has lost 37 percent in the last one year. It was quoting at Rs 42.50, down Re 1, or 2.30 percent, on the BSE at 1144 hours.

The state-owned company reported very weak results in the July-September quarter, posting a net loss of Rs 28 crore against a net profit of Rs 510 crore in the same period last year

Revenue from operations degrew by 22.3 percent year-on-year to Rs 2,364 crore, while operating profit plunged 96 percent YoY to Rs 32 crore in the quarter.

Margin contracted to 1.37 percent against 28 percent in the same quarter last year, as other expenses increased by 25 percent YoY.

Aluminium revenue dropped 13 percent YoY and at EBIT level, the segment delivered a loss of Rs 120.9 crore (against loss Rs 246 crore) as lower LME and coal availability appeared to be the key problems.

Chemicals segment reported a 22 percent YoY decline in revenue and 79 percent fall in EBIT in the July-September period.

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First Published on Nov 14, 2019 12:18 pm
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