The Business Bytes
Bhubaneswar, August 12, 2024 (TBB Bureau): National Aluminium Company Limited (NALCO), a prestigious Navratna Central Public Sector Enterprise (CPSE), has reported a stellar start to the financial year 2024-25. The company’s net profit for the first quarter (Q1FY25), ended June 30, 2024, soared by 72 per cent to Rs. 601 crore, up from Rs. 349 crore in the same period in the previous fiscal.
The remarkable financial performance, disclosed during a Board of Directors meeting held in Bhubaneswar on Monday, underscores NALCO’s robust operational efficiency and resilience in a dynamic market environment. For Q1FY25, the company recorded revenue from operations of Rs. 2,856 crore, reflecting a substantial gain attributed to several key factors.
According to NALCO Chairman and Managing Director Sridhar Patra, the significant increase in net profit is a result of strategic cost management, a favourable domestic business climate, and a rise in international metal prices. Additionally, the successful operationalization of in-house captive coal from the Utkal D coal block has substantially bolstered the company’s financial performance.
Patra praised the results, highlighting NALCO’s unwavering commitment to excellence and sustained manufacturing momentum. He noted that these achievements are part of the company’s ongoing efforts to enhance performance across the aluminium and alumina value chain, which has consistently shown improvement over the years.
In addition to the impressive financial results, NALCO has announced a final dividend of Rs. 2 per equity share, amounting to a total payout of Rs. 367.33 crore for FY2023-24. This dividend, which represents 40 per cent of the face value of Rs. 5 per share, reflects the company’s strong financial health and its commitment to delivering value to shareholders.
NALCO’s robust performance in Q1FY25 highlights its position as a leader in the aluminium industry and underscores its strategic focus on operational efficiency and market adaptability.
