New Delhi: In the quarter ended June 2024, Nalco, which is owned by the state, announced a 76.3 per cent increase in consolidated profit, reaching Rs 588.42 crore. In an exchange filing, National Aluminium Company Ltd (Nalco) reported a consolidated profit of Rs 333.76 crore in the previous year.
The company's combined earnings decreased to Rs 2,916.62 crore in April-June from Rs 3,226.88 crore in the previous year, according to the filing. The board proposed a final dividend of Rs 2 per share for 2023-24, pending approval from shareholders at the upcoming annual general meeting. It was stated that the last dividend, if sanctioned, will be issued within 30 days from the declaration date.
Nalco, classified as a 'Navratna' company, is a major complex in India for bauxite, alumina, aluminium, and power production. 51.28 percent of Nalco's equity capital is owned by the government. The corporation has been running its captive bauxite mines at Panchpatmali to supply the pit head alumina refinery, Aluminium Smelter, and Captive Power Plant in Odisha.
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