It had posted a consolidated profit of Rs 256.32 crore in year ago quarter (Q3FY23). On sequential basis, profit rose 137 per cent from Rs 206 crore in September quarter.
The company’s revenue from operations grew 1.5 per cent year-on-year (YoY) at Rs 3,347 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) jumped 68 per cent YoY to Rs 770 crore, driven by better operating performance in the aluminum business.
The average trading volumes at the counter more-than-doubled today. A combined 81.7 million equity shares of the company changed hands on the NSE and BSE. The stock had hit a record high of Rs 165.60 on February 7. In comparison, the S&P BSE Sensex was down 0.46 per cent at 71,224 at 01:57 pm.
NALCO, the Navratna PSU, under Ministry of Mines, Government of India and country’s leading manufacturer and exporter of alumina and aluminium.
On production front, NALCO said it achieved strong growth with highest-ever cumulative metal production of 345,086 MT. Similarly, on sales front, the company also achieved highest-ever cumulative metal sale of 349,419 MT, during the first nine months (April to December) of the current fiscal.
Recently, NALCO’s JV (set up by three CPSUs), KABIL, signed the first exploration and lithium mining agreement with Argentina’s CAMYEN SE. This will help NALCO set up its presence, diversify the product offerings, and enhance the supply chain in critical and strategic minerals, which find key applications across the sectors. In addition, NALCO’s participation will also help in garnering the requisite technical and operational experience for Brine type lithium exploration, exploitation, and extraction, said Motilal Oswal Financial Services (MOFSL) in result update.
Until the fifth stream of alumina does not come on stream, the brokerage firm expects NALCO to operate at full capacity, leaving little room for capacity expansion for the next two years, and the next phase of growth is expected to commence once the additional 1mt stream of alumina refinery comes on stream by Jan-May’25.
Operationalization of the Utkal D coal block would cater to ~25-28 per cent of the coal requirement of the Angul smelter. This would help enhance the raw material security, which would propel the margins until the augmented capacity is on stream, MOFSL said with a ‘neutral’ rating on the stock.