National Aluminium Company (NALCO) declined 1.10% to Rs 35.90 after the company's consolidated net profit slumped 82.9% to Rs 16.69 crore on 33.8% drop in net sales to Rs 1,380.63 crore in Q1 June 2020 over Q1 June 2019.
Consolidated profit before tax (PBT) tanked 83.3% to Rs 24.73 crore in Q1 June 2020 over Q1 June 2019. Current tax expense for the quarter tumbled 83.9% year-on-year to Rs 8.04 crore. The Q1 result was declared after market hours on Friday, 4 September 2020.
NALCO is a Navratna group 'A' CPSE having integrated and diversified operations in mining, metal and power under Ministry of Mines, Government of India. As on 30 June 2020, the Government of India held 51.50% equity of NALCO.
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