Nalco’s Q1 net profit dips 26 per cent to Rs 135 crore

By: |
New Delhi | September 12, 2016 7:20 PM

Aluminium maker Nalco today reported a 36 per cent fall in its standalone net profit at Rs 135 crore for the quarter ended June 30, 2016.

The state-run firm had clocked a net profit of Rs 174.32 crore in the year-go period, it said in a BSE filing. (Source: PTI)

Aluminium maker Nalco today reported a 36 per cent fall in its standalone net profit at Rs 135 crore for the quarter ended June 30, 2016.

The state-run firm had clocked a net profit of Rs 174.32 crore in the year-go period, it said in a BSE filing.

Total standalone income of the Navratna firm rose by 4 per cent to Rs 1,549 crore in April-June quarter this fiscal from Rs 1,491.27 crore during the same quarter in 2015-16 fiscal.

Its total expenses were higher at Rs 1,473.19 crore from Rs 1,361.63 crore during the period under review.

The firm’s Rs 2,835 crore offer to buyback 64.43 crore shares opened last month on August 30 and will close this week on September 14.

The offer size represents 22.15 per cent of the aggregate of the fully paid-up share capital and free reserves of the Navratna company for the financial year ended March 31, 2015.

In May, the PSU had announced plans to buyback shares not exceeding 64,43,09,628 (representing 25 per cent of the total number of equity shares in paid—up share capital of the firm).

The buyback is at a price of Rs 44 per share payable in cash for an aggregate consideration not exceeding Rs 2,834.96 crore. The government holds 80.93 per cent stake in Nalco.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1CG Power case: SAT asks Sebi to pass final order in 6 months
2What is Rights Entitlement of shares? How investors can benefit or lose money; all you need to know
3TCS, Infosys, IT cos Q4 results preview: Strong revenue growth, hiring pick-up, lower margins