NALCO Q1 FY23 PAT rises 61% YoY; board recommends final dividend for FY22

National Aluminium Company reported 60.6% rise in consolidated net profit to Rs 557.91 crore on a 52.9% increase in net sales to Rs 3783.32 crore in Q1 FY23 over Q1 FY22.

On the segmental front, revenue from Chemicals was Rs 1,199 crore (up 12.3% YoY) and that from Aluminium was Rs 2,980 crore (up 71.5% YoY) in the first quarter.

Total expenditure increased by 55% YoY to Rs 2935.38 crore during the quarter, due to steep rises in raw material costs (up 86.8% YoY) and power, oil & fuel charges (up 78.7% YoY).

Interest payments amounted to Rs 3.87 crore in the first quarter as against Rs 1.77 crore in the same period last year.

Profit before tax in Q1 FY23 stood at Rs 757.32 crore, up by 64.1% from Rs 461.36 crore in Q1 FY22. Tax outgo during the period under review was Rs 211.86 crore (up 86% YoY).

The company's board has recommended final dividend of Rs 1.50 per share for the financial year ended 31 March, 2022, subject to the approval of shareholders in the ensuing 41st Annual General Meeting (AGM).

This final dividend is in addition to the 1st interim dividend of Rs 2 per share and 2nd interim dividend of Rs 3 per share already paid during December 2021 and March 2022, respectively, during the financial year 2021-22.

National Aluminium Company (NALCO), a schedule 'A' Navratna CPSE, is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complex in the country. At present, Government of India holds 51.28% of paid up equity capital.

The scrip had gained 1.35% to end at Rs 78.70 on the BSE on Monday.

The domestic equity market is closed today (9 August 2022) on account of Muharram.

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