Nalco's Q4FY24 margin has come in strong at 30.9 percent, which was at 20.9 percent a year ago.
live bse livense live Volume Todays L/H More ×Navaratna PSU miner Nalco has reported a strong set of results in Q4FY24, clocking a net profit of Rs 996.70 crore, which is double of what it reported a year ago.
Nalco's revenue has come in marginally lower - down by 2.5 percent on year - at Rs 3,579 crore, while margin has come in strong at 30.9 percent.
Story continues below Advertisement Remove AdThe margin and bottomline both have been higher than what was being projected in a CNBC-TV18 poll of earnings estimate.
Story continues below Advertisement Remove AdStory continues below Advertisement Remove AdMeanwhile, revenue from operations fell 2.5% to 35.79 billion rupees.
Nalco's Q4FY24 margin has come in strong at 30.9 percent, which was at 20.9 percent a year ago.
live bse live
nse live Volume Todays L/H More ×
Navaratna PSU miner Nalco has reported a strong set of results in Q4FY24, clocking a net profit of Rs 996.70 crore, which is double of what it reported a year ago.
Nalco's revenue has come in marginally lower - down by 2.5 percent on year - at Rs 3,579 crore, while margin has come in strong at 30.9 percent. A year ago, the company had clocked a margin of 20.9 percent during the fourth quarter.
Story continues below Advertisement Remove Ad
The margin and bottomline both have been higher than what was being projected in a CNBC-TV18 poll of earnings estimate. The compant also recommended a final dividend of Rs 6 per share.
Shares of Nalco are trading higher by 43 percent for the year.
At the start of the year, Nalco had shared an ambitious growth outlook of a sustainable business. The chairman and managing director (CMD) Sridhar Patra had said: "The past three years have witnessed significant achievements and have brought new laurels to the company. Backward integration and securitization of energy and bauxite has increased the business span of the organisation for the next 30 years.".
Last fiscal, the company registered its highest-ever metal sales of 4,70,108 metric tonne, adding that its excavation of bauxite had reached a record high.
The state-owned firm's expenses were kept in check by lower prices of thermal coal and bauxite - key material for aluminium production, as it opted to source more domestic coal and bauxite in the quarter.
Its overall expenses fell to 27.20 billion rupees from 31.61 billion a year ago owing to a 22% decline in raw material costs.
Story continues below Advertisement Remove Ad
Story continues below Advertisement Remove Ad
Meanwhile, revenue from operations fell 2.5% to 35.79 billion rupees.
Lower costs were offset by a plunge in aluminium prices. The benchmark three-month aluminium on the London Metal Exchange averaged $2,241 a metric ton in January-March this year, down 8.2% from the same period in 2023.
Last week, rival Hindalco reported fourth-quarter profit above estimates on lower costs.
