scorecardresearchNalco Q1 net profit rises 61% to ₹558 crore
Mintgenie

Nalco Q1 net profit rises 61% to ₹558 crore

Team MintGenie
Updated: 09 Aug 2022, 07:21 AM IST
TL;DR.

Nalco had posted a consolidated profit of ₹347.48 crore in the year-ago period, Nalco said in a regulatory filing.

NALCO: The brokerage has a target price of <span class='webrupee'>₹</span>150 per share for the stock, indicating an upside of 24 percent. Nalco is the only pure equity play on Aluminium and Alumina commodities in India. Aluminium is expected to remain in a deficit a second consecutive time in CY22 supporting higher prices. The recent geopolitical tension in Europe has pushed prices to a 13 year high level above $3,300/t and Nalco is well placed to benefit from the higher prices, said Axis.

NALCO: The brokerage has a target price of ₹150 per share for the stock, indicating an upside of 24 percent. Nalco is the only pure equity play on Aluminium and Alumina commodities in India. Aluminium is expected to remain in a deficit a second consecutive time in CY22 supporting higher prices. The recent geopolitical tension in Europe has pushed prices to a 13 year high level above $3,300/t and Nalco is well placed to benefit from the higher prices, said Axis.

(PTI) National Aluminium Company Ltd (Nalco) on Monday reported a 60.5 per cent rise in consolidated profit at ₹557.91 crore for the quarter ended June on the back of higher revenue from operations.

The company had posted a consolidated profit of ₹347.48 crore in the year-ago period, Nalco said in a regulatory filing.

The PSU's consolidated revenue from operations increased to ₹3,783.32 crore, over ₹2,474.55 crore last year.

First Published: 09 Aug 2022, 07:21 AM IST

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