The Business Bytes
TBB BUREAU
BHUBANESWAR, FEB 13, 2024
Navratna PSU and country’s leading manufacturer and exporter of alumina and aluminium, National Aluminium Company Limited (NALCO), has reported a substantial surge in its net profit for the third quarter ended December 2023, reaching Rs. 488 crore, marking a remarkable 137 per cent increase compared to the previous quarter of the current fiscal year, which stood at Rs. 206 crore.
The Board, convening in Bhubaneswar on Tuesday, reviewed the financial results for the third quarter (Q3) of the financial year 2023-24 (FY24).
For the nine months ended December 2023, the net profit amounted to Rs. 1,044 crore, compared to Rs. 1,023 crore during the corresponding period the previous year. Total income for Q3 of FY24 was recorded at Rs. 3,398 crore, showing a slight increase from Rs. 3,358 crore in Q3 of FY23.
On the production front, NALCO achieved robust growth, achieving its highest-ever cumulative metal production of 345,086 MT. Similarly, in terms of sales, the aluminium major achieved its highest-ever cumulative metal sales of 349,419 MT during the first nine months of the current fiscal year.
Furthermore, NALCO has declared a second interim dividend at Rs. 2 per share for the financial year 2023-24.
