Nalco National Aluminium Company

State-owned National Aluminium Company Ltd (NALCO) on Monday reported an over three-fold jump in its consolidated net profit at Rs 1,566.32 crore in the December 2024 quarter, on account of higher income. It had posted a net profit of Rs 470.61 crore during the October-December period of 2023-24, the company said in a regulatory filing. The company's total income increased 40 per cent to Rs 4,761.31 crore against Rs 3,397.87 crore in the year-ago period. NALCO trimmed its expenses to Rs 2,639.41 crore compared to Rs 2,729.66 crore in the corresponding period a year ago. The board of the company also approved payment of second interim dividend of Rs 4 per share, 80 per cent on a face value of Rs 5 each, on the paid-up equity share capital of Rs 918.32 crore for financial year 2024-25. The company has fixed February 14, 2025, as the record date for payment of the dividend. Under the Ministry of Mines, NALCO is the country's leading manufacturer and exporter of alumina and aluminium

Shares of state owned aluminium company National Aluminum slumped 2.26 per cent at Rs 244.25 a piece on the BSE in the intraday trade of Wednesday

NALCO shares continued their upward movement hitting a new high at Rs 252.65, up 5% in intra-day trades and have surged 15% in the past 3 days after China said it would cancel export tax rebates.

The development is likely to curtail China's aluminium exports, thereby tightening global supply and driving up prices, ICICI Securities said

Nalco reported its Q2 results on Wednesday, after market hours. The company's consolidated profit rose more than five-fold to Rs 1,045.97 as compared to Rs 187.35 crore a year ago

The NSE Metal index has rallied 3% so far this week, while the Nifty has edged 0.2% higher. Technical charts suggest select frontline metal shares can rally another 14% from present levels.

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Technically, probability of metal stocks entering a negative trend remains negligible. A resilient bullish trend seems clearly visible in Tata Steel and Vedanta.

The company had posted a consolidated profit of Rs 347.48 crore in the year-ago period, Nalco said in a regulatory filing.

The company's consolidated income during the January-March period increased to Rs 4,492.10 crore as against Rs 2,874.47 crore a year ago, the filing said.

CPI general secretary D Raja has written to Prime Minister Narendra Modi requesting him to roll back the government's decision to privatise aluminium major NALCO.

Most metal stocks are trading at their record highs and showing no sign of slowing down

After intermittent disruption in coal despatches due to sporadic stirs at mines under the command area of Mahanadi Coalfields Ltd, supply position improved substantially post monsoons

Nalco despite being an integrated player was negatively impacted from fragile alumina prices

The company had moved away from long-term deals with major buyers and began risking its surplus in the international spot markets, selling over 95% of its exportable alumina here

The firm is mandated to scout for and secure 12 mineral assets in which the country lacks ample reserves and has to bank on imports

Coal mining to take off in 2020, Pottangi bauxite mine to go on stream in 2023

Though Nalco has charted a new business model to make it immune to vagaries of the metal business, the plans may to take 2-3 years to deliver outcomes

At the bourses, shares of Nalco have underperfomed market by falling 32 per cent year-to-date (YTD) while the benchmark Nifty50 index has remained flat, down 0.20 per cent.

Achievements give motivation and purpose gives objectivity to any organization, the Nalco chairman said