National Aluminum Co's consolidated net profit rose 76% in the first quarter of the current financial year, but missed analysts' estimates.
The aluminum manufacturer's profit increased to Rs 588 crore in the June quarter in comparison to Rs 334 crore in the year-ago period, according to an exchange filing on Friday. Analysts tracked by Bloomberg had a consensus estimate of Rs 741.4-crore profit.
The company's board has also recommended final dividend of Rs 2 per share for the financial year 2023‐24, subject to shareholder approval at the company's upcoming Annual General Meeting.
Nalco Q1 FY25 Earnings Highlights (Consolidated, YoY)
Revenue down 10% to Rs 2,856 crore (Bloomberg estimate: Rs 3,882.1 crore).
Ebitda up 57% to Rs 933 crore (Estimate: Rs 1,137.8 crore).
Ebitda margin expands to 32.7% versus 18.7% (Estimate: 29.3%).
Net profit up 76% to Rs 588 crore (Estimate: Rs 741.4 crore).
The decline in the revenue was primarily driven by the 27% fall in revenue in the chemical segment. The company's margin, however, expanded on lower raw material and power costs.
Nalco's cost of raw materials decreased 34%, while the power and fuel costs saw an annual decline of over 25%
RECOMMENDED FOR YOU
Nalco Share Price Gains As Q2 Profit Grows Over Five Times
Nov 14, 2024
Nalco Q2 Results Review - Broad-Based Beat Fueled By Favorable Pricing: Motilal Oswal
Nov 14, 2024
RVNL Share Price Snaps Three-Day Rally To Fall Over 7% After Q2 Profit Miss
Nov 08, 2024
M&M Financial Services Q2 Result: Profit Jumps 57% But Misses Estimates
Oct 22, 2024
POPULAR