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10 NOVEMBER 2022 AL CIRCLE

NALCO posts a 2% Y-o-Y drop in total income for 2QFY23 on higher expenses of INR3312.95 crore

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

On Wednesday, November 9, National Aluminium Limited (NALCO) announced its financial results for the second quarter and first half of the fiscal year 2023 ended September 30. The company declared its total income stood at INR 3,558.83 crore during Q2 FY23 compared to INR 3,846.22 crore in Q1 and INR 3,634.59 crore in Q2 FY22. That recorded a Q-o-Q decline of 7.47 per cent and a year-on-year fall of 2.08 per cent in the September quarter. However, for the first half of FY23, NALCO booked a 20.6 per cent increase in total income from INR 6,140.88 crore to INR 7,405.05 crore.

NALCO posts a 2% Y-o-Y decline in total income for 2QFY23 on higher expenses of INR3312.95 crore

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NALCO’s profit before exceptional items and tax was pegged at INR 245.88 crore in Q2 FY23, 68.40 per cent less than INR 778.05 crore a quarter ago and 75.80 per cent plunged from INR 1,016.07 crore a year earlier, driven by lower income and higher expenses. In H1 FY23, the company yielded INR 1,023.93 crore of profit before tax and exceptional items compared to INR 1,477.68 crore during the same period last year.

Expenses rose sequentially by 8 per cent from INR 3,068.17 crore in Q1 FY23 to INR 3,312.95 crore in Q2 FY23. On a year-on-year basis, it escalated by 26.52 per cent from INR 2,618.52 crore. In the first half of the year, NALCO’s total expenses stood at INR 6,381.12 crore, up by 36.84 per cent from INR 4,663.20 crore a year ago.

Cash flows from operating activities also declined year-on-year during H1 FY23 amounting to INR 748.76 crore versus INR 1,095.43 crore.

NALCO’s current assets at the end of September 30, 2022, totalled INR 17,669.07 crore compared to INR 17,277.79 crore at the end of March 31, 2022.

Future of the Global Aluminium Castings Industry

 Nalco, a navratna CPSE, is one of the largest integrated bauxite-alumina-aluminium-power complexes in the country. At present, the centre holds 51.28 per cent of paid up equity capital.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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