NALCO dips on posting 34% decline in net profit

Aluminium maker NALCO is trading lower by nearly 2% at Rs 37 on the BSE after the company reported a 34% decline in its net profit to Rs 226 crore for the September quarter as against Rs 342 crore in the corresponding quarter last year.

Meanwhile, the net income also declined by 9% at Rs.1,780 crore during the quarter under review as against Rs 1,955 crore during the same quarter previous year.

Compared to the gross profit of Rs.539 crore in the year-ago quarter, Nalco posted a subdued gross profit at Rs.358 crore this year. Tax expenses during the period under consideration also saw a fall of 33%.

The stock opened at Rs 37.25 and touched a low of Rs 36.45 on the BSE. A total of 25,596 shares changed hands on the BSE so far.