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Business News/ Markets / Stock Markets/  NALCO Q4 Results: Net profit declines 51.7% to 495 crore on high input costs, revenue down 15%
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NALCO Q4 Results: Net profit declines 51.7% to ₹495 crore on high input costs, revenue down 15%

The Navratna central public sector enterprise or CPSE's revenue from operations in the January-March quarter stood at ₹3,670.9 crore, posting a drop of 15.6 per cent, compared to ₹4,340 crore in the year-ago period.

NALCO's net profit in Q4FY23 stood at ₹495 crore. (File image: aluminum metal: Bloomberg)Premium
NALCO's net profit in Q4FY23 stood at 495 crore. (File image: aluminum metal: Bloomberg)

The National Aluminum Company Ltd (NALCO) announced its Q4FY23 results on May 24, reporting a net profit of 459 crore, registering a decline of 51.7 per cent, compared to 1025.46 crore in the corresponding period last year. The Navratna central public sector enterprise or CPSE's revenue from operations in the January-March quarter stood at 3,670.9 crore, posting a drop of 15.6 per cent, compared to 4,340 crore in the year-ago period.

On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fourth quarter came in at 766.5 crore, registering a decline of 52.9 per cent, compared to 1,618 crore in the same quarter last year.

Also Read: Aluminium firms raise duty anomaly

The state-owned company's total expenses for the quarter-under-review came in at 3,160.6 crore and total income stood at 3,726.7 crore. The cost of raw materials used during Q4FY23 was 863.9 crore, compared to 673.3 crore in the same quarter previous fiscal.

‘’The higher input cost coupled with challenging global business environment, supply-demand and market volatility, has impacted NALCO's profit margins as expected despite the fact that the company has registered considerable growth in several fronts in FY 2022-23,'' according to a regulatory filing by NALCO to the stock exchanges.  

NALCO achieved the highest-ever bauxite excavation of 75.51 lakh tonne and production of 21.23 lakh tonne alumina hydrate against the normative capacity of 21 lakh tonne - which is 101.1 per cent capacity utlisation. On the sales front, the company registered the highest-ever metal sale of 4.64 lakh tonne which also includes the highest-ever domestic metal sale.

‘’The focus of the company is now on early completion of the 5th Stream Refinery project and development of Pottangi Bauxite mines and Utkal D & E coal Blocks in Odisha. Operationalization of these mines shall play a pivotal role in offsetting the vulnerability to adverse market conditions, capitalizing on emerging opportunities and shall deliver long-term value to our stakeholders,'' said Sridhar Patra, CMD, NALCO.

On May 24, shares of NALCO settled 0.90 per cent lower at 80.65 apiece on the BSE.

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ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 24 May 2023, 09:08 PM IST
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