Nalco Q1 Profit Surges 76% to Rs 588 Crore - Business News

New Delhi, Aug 12 (PTI) State-owned Nalco on Monday reported a 76.3 per cent rise in consolidated profit at Rs 588.42 crore in the quarter ended June 2024.

The company had posted a consolidated profit of Rs 333.76 crore in the year-ago period, National Aluminium Company Ltd (Nalco) said in an exchange filing.

However, the consolidated income of the company during April-June period declined to Rs 2,916.62 crore from Rs 3,226.88 crore in the year-ago period, the filing said.

The board has recommended final dividend of Rs 2 per share for 2023-24, subject to the approval of shareholders in the ensuing annual general meeting.

"The final dividend...if approved...will be paid within a period of 30 days from the date of declaration," it said.

Nalco, a 'Navratna' company, is one of the country's largest bauxite, alumina, aluminium and power complex. The government owns 51.28 per cent of Nalco's equity capital. The company has been operating its captive Panchpatmali bauxite mines for the pit head alumina refinery and Aluminium Smelter and Captive Power Plant in Odisha.