 "National Aluminium falls on disappointing Q2 results")
National Aluminium Company fell 9% to Rs 60 on the BSE in intra-day trade after the company reported 52% year on year (YoY) drop in its net profit at Rs 121 crore for the quarter ended September 30, 2016 (Q2FY17), due to poor performance of chemical business. It had profit of Rs 251 crore in the same quarter last year.
Total income from operations declined 4% YoY at Rs 1,846 crore against Rs 1,928 crore in the corresponding quarter of previous fiscal.
The company’s chemicals business posted PBIT (profit before tax and interest) of Rs 147 crore in Q2FY17 against Rs 333 crore in Q2FY16. Aluminium segment loss before interest and taxes reduced to Rs 100 crore from 108 crore.
Last week, the stock hit a 52-week high of Rs 72.45 on December 8, in intra-day trade. It had outperformed the market by surging 35% in past one month against 1% rise in the S&P BSE Sensex till Wednesday.
At 11:39 am; the stock was down 5.4% at Rs 62.60 on the BSE. A combined 3.18 million shares changed hands on the counter on the BSE and NSE so far.
Total income from operations declined 4% YoY at Rs 1,846 crore against Rs 1,928 crore in the corresponding quarter of previous fiscal.
The company’s chemicals business posted PBIT (profit before tax and interest) of Rs 147 crore in Q2FY17 against Rs 333 crore in Q2FY16. Aluminium segment loss before interest and taxes reduced to Rs 100 crore from 108 crore.
Last week, the stock hit a 52-week high of Rs 72.45 on December 8, in intra-day trade. It had outperformed the market by surging 35% in past one month against 1% rise in the S&P BSE Sensex till Wednesday.
At 11:39 am; the stock was down 5.4% at Rs 62.60 on the BSE. A combined 3.18 million shares changed hands on the counter on the BSE and NSE so far.
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