PSU stock jumps 6% after company’s net profit increased by 108% QoQ

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PSU stock jumps 6% after company’s net profit increased by 108% QoQ
Credit: © Reuters.

The shares of aluminium producer in Asia gained up to 6 percent after the company’s net profit increased by 95 percent YoY and 108 percent QoQ in the fourth quarter.

With a market capitalization of Rs 36,099.00 crore, the shares of National Aluminium Company Ltd. were trading at Rs 196.55 per shares, increasing around 1.18 percent as compared to th previous closing price of Rs 194.25 apiece.

Looking into the company’s performance, National Aluminium Company Ltd’s revenue increased by 7 percent on a quarter-on-quarter basis from Rs. 3,348 crore in Q3FY24 to Rs. 3,579 crore in Q4FY24. Further, revenue decreased by 2 percent year on year, from Rs. 3,671 crore in Q4FY23 to Rs. 3,579 crore in Q4FY24.

National Aluminium Company Ltd’s net profit increased by 108 percent on a quarter-on-quarter basis, from Rs. 488 crore in Q3FY24 to Rs. 1,016 crore in Q4FY24. Further, net profit increased by 95 percent year on year from Rs. 522 crore in Q4FY23 to Rs.1,016 crore in Q4FY24.

The stock has delivered multi-bagger returns of 112.23 percent in the last six months and 126.96 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.26 lakh in a year.

Since its start, the company has reached the maximum amount of cast metal output. The company set records for cast metal production (4.6 lakh metric tonnes), bauxite excavation (76 lakh metric tonnes), and metal sales (4.7 lakh metric tonnes).

NALCO increased its product line in fiscal year 2023-2024 with the introduction of a new Aluminium alloy ingot (AL59). With a capacity utilisation rate of 101.15%, NALCO’s Alumina Refinery produced 21,24,000 metric tons of Alumina Hydrate. Additionally, the Captive Power Plant produced 7193.62 million units of power.

In fiscal year 23-24, NALCO successfully built and operationalized its Utkal D coal block, producing 2 million metric tonnes of coal, matching the mine’s peak-rated capacity. The development of these captive coal mines is expected to boost NALCO’s near-term profitability.

National Aluminium corporation Limited is an India-based corporation that specializes in the manufacturing and sale of alumina and aluminum. Chemical and Aluminium are two of the company’s business segments. The Chemical category includes calcined alumina, alumina hydrate, and other goods.

Written by:- Abhishek Singh

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