Nalco slips on profit booking

Nalco posted a very set of earnings for Q1Fy22; yet as is the trend nowadays, the stock price slipped into the trade as traders booked profit. The stock opened over 3.5% lower at Rs.90.25, going down further by over 8.5% to Rs.85.60.

The Navratna PSU reported impressive results, with a 20-times jump in consoldiated net profit at Rs.348 crore (YoY). Its revenue from operations were up 79% at Rs.2475 crore. This is mainly propelled by strong demand, higher volumes, better realization and effective capacity utilization of its operational units.

On the production front, NALCO has put up an impressive performance. During the quarter, the production of Bauxite, Alumina and Aluminium have been 17.61 Lakh Tonnes, 5.21 Lakh Tonnes and 1.14 Lakh Tonnes respectively, compared to 17.10 Lakh Tonnes, 4.65 Lakh Tonnes and 0.98 Lakh Tonnes respectively in the comparative period of the last fiscal.