Nalco shares surge nearly 10% on smart Q2 earnings
Mumbai: Shares of aluminium maker Nalco surged nearly 10 per cent in afternoon trade today after the company reported 91 per cent jump in net profit for the second quarter ended September.
The state-run firm's scrip jumped 9.63 per cent to Rs. 64.30 on the BSE. Later, it was trading with a gain of 5.71 per cent at Rs. 62 at 1230 hours.
Nalco had yesterday reported 91 per cent jump in net profit at Rs. 341.52 crore for the second quarter ended September on higher income.
The company had clocked Rs. 179.17 crore net profit in the July—September quarter of last fiscal, it had said in a BSE filing.
Total income of the company rose to Rs. 1,996 crore from Rs. 1,738 crore a year earlier.
Total expenses of the company rose to Rs. 1,625 crore from Rs. 1,599 crore. Tax expenses also increased to Rs. 198 crore from Rs. 83 crore.