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  1. Nalco shares hit two-month low as Q1 net profit slips by 23%

Nalco shares hit two-month low as Q1 net profit slips by 23%

Shares of National Aluminium Co Ltd (Nalco) slipped as much as 2.65 per cent on Wednesday and hit lowest level since July 12 after the aluminium major reported 22.55 per cent fall in net profit at Rs 135.01 crore for the quarter ended June 30, 2016

By: | New Delhi | Updated: September 14, 2016 5:30 PM
BSE Sensex NSE Nifty stocks to buy Shares of National Aluminium Co Ltd (Nalco) slipped as much as 2.65 per cent on Wednesday and hit lowest level since July 12 after the aluminium major reported 22.55 per cent fall in net profit at Rs 135.01 crore for the quarter ended June 30, 2016 (Photo: Reuters)

Shares of National Aluminium Co Ltd (Nalco) slipped as much as 2.65 per cent on Wednesday and hit lowest level since July 12 after the aluminium major reported 22.55 per cent fall in net profit at Rs 135.01 crore for the quarter ended June 30, 2016 against Rs 174.32 crore in the same quarter last year. Gross sales of Nalco climbed by 3.95 per cent year-on-year to Rs 1528.18 crore for the quarter under review against Rs 1470.10 crore in the same quarter last year. Operating profit of the company fell by 10.64 per cent year-on-year to Rs 328.23 crore.

At 1 pm, shares of the company were trading 1.17 per cent down at Rs 46.45. The scrip opened the day at Rs 46.40 and has touched a high and low of Rs 46.85 and Rs 45.75, respectively, in trade so far. Later, the scrip ended 1.70 per cent down at Rs 46.20.

In the past one year, shares of the company have risen 27.37 per cent to Rs 47 till September 12, whereas BSE Sensex gained nearly 10 per cent during the same period.

The company is the largest integrated alumina-aluminium complex of Asia. Its integrated operations cover the entire aluminium production value chain from mining bauxite, refining alumina, smelting aluminium, captive power generation to a strong logistic network in terms of rail & port facilities, coal mining and handling plant to support its operations and to become one of the most cost-efficient aluminium companies across the globe.

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