State-owned National Aluminum Company Ltd (Nalco) on Friday reported a 17.8 percent year-on-year (YoY) fall in consolidated net profit at Rs 333.8 crore for the first quarter that ended June 30, 2023.
In the corresponding quarter last year, Nalco posted a net profit of Rs 558 crore, the company said in a regulatory filing. A CNBC-TV18 poll had predicted a profit of Rs 406 crore for the quarter under review.
The consolidated total revenue stood at Rs 3,178.4 crore during the period under review, falling 16.3 percent against Rs 3,795.2 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted revenue of Rs 3,259 crore for the quarter under review.
At the operating level, EBITDA declined 32.4 percent to Rs 594.4 crore in the first quarter of this fiscal over Rs 879.8 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 18.7 percent in the reporting quarter as compared to 23.2 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The board has recommended a final dividend of Re 1 per share (20 percent on the face value of Rs 5 each) for the financial year 2022‐23, subject to the approval of shareholders, the company said.
The results came after the close of the market hours. Shares of National Aluminum Company Ltd ended at Rs 94.24, down by Rs 0.77, or 0.81 percent on the BSE.
