The Business Bytes
Bhubaneswar, November 13, 2024 (TBB Bureau): National Aluminium Company Limited (NALCO), a Navratna Central Public Sector Enterprise (CPSE), has delivered a remarkable financial performance for the quarter ending September 30, 2024 (Q2FY25), posting an impressive five-fold increase in net profit. NALCO reported a net profit of ₹1,062 crore, a substantial leap from ₹206 crore in the same period last year. The results, approved during the Board of Directors’ meeting in Bhubaneswar on Wednesday, underscore the company’s strong upward trajectory.
The company’s total income from operations for the quarter reached ₹4,001 crore, representing a 32 per cent growth over Q2 of FY 2023-24, which recorded an income of ₹3,044 crore. NALCO’s robust financial performance is further reflected in its half-yearly figures, with net profit soaring by 199 per cent to ₹1,663 crore, compared to ₹556 crore during the first half of the previous fiscal.
NALCO has also achieved a significant milestone in its domestic market, with a record-breaking domestic metal sales volume of 2,21,966 MT in the first half of FY 2024-25, marking its highest-ever cumulative sales in this segment. In recognition of its outstanding performance, the company announced an interim dividend of ₹4 per equity share, totaling ₹734.65 crore for FY 2024-25.
The stellar results in Q2FY25 have been largely driven by enhanced operational efficiency, favorable aluminum prices, and a positive domestic market environment.
Sanjay Lohiya, Chairman-cum-Managing Director of NALCO, attributed the company’s success to the hard work and dedication of its employees, partners, and stakeholders. “The Q2 results are a testament to our collective ability to adapt and navigate market challenges. Moving forward, we will build on this momentum, drive operational excellence, and explore new opportunities to strengthen our market position,” he said.
