Navratna NALCO Q2 FY25 net profit soars 415 per cent to rs 1,062 Cr
By A.K. Sahoo
Bhubaneswar, Nov. 14: National Aluminium Company Limited (NALCO), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Mines, has reported a remarkable 415 per cent year-on-year increase in net profit for the second quarter of FY 2024-25, reaching Rs 1,062 crore. This is a significant jump from the Rs 206 crore achieved during the same period last year.
At a Board of Directors meeting held in Bhubaneswar on Wednesday, the company’s quarterly results were formally recorded. NALCO’s total income from operations during Q2 stood at Rs 4,001 crore, representing a 32 per cent growth over Q2 FY 2023-24, which saw total income of Rs 3,044 crore.
NALCO has also demonstrated robust performance in the first half of the current financial year, achieving a 199 per cent increase in net profit to Rs 1,663 crore compared to Rs 556 crore in the corresponding period of the previous year. Notably, NALCO reported its highest-ever domestic metal sales for the first half of the fiscal year, with cumulative domestic metal sales reaching 2,21,966 metric tonnes.
In recognition of its strong financial performance, the company declared an interim dividend of Rs 4 per equity share (an 80 per cent return on the face value of Rs 5 each), amounting to a total dividend payout of Rs 734.65 crore for FY 2024-25.
The impressive results in Q2 FY25 are attributed to a combination of improved operational efficiency, higher aluminum prices, and a favorable domestic business environment.
Sanjay Lohiya, Chairman-cum-Managing Director of NALCO, remarked on the company’s performance: “Our Q2 results are a testament to the hard work and dedication of our employees, partners, and stakeholders, showcasing our collective ability to adapt and navigate market challenges. As we move forward, we aim to build on this momentum, drive operational excellence, and explore new opportunities to strengthen our market position. I am confident that together, we will continue to deliver exceptional results and create greater value for NALCO in the quarters to come.”
——————–
Photograph: (Left) NALCO chairman-cum-managing director Sanjay Lohiya and (right) the CPSE’s corporate office in Odisha capital Bhubaneswar
