National Aluminium dips on weak June quarter results

The stock dipped 7.5% to Rs 33.85, also its 52-week low on the BSE, after reporting 40% YoY drop in profit in June quarter.

National Aluminium Company has dipped 7.5% to Rs 33.85, also its 52-week low on the BSE, after reporting 40% year-on-year (YoY) drop in net profit at Rs 163 crore for the quarter ended June 2015 (Q1), due to lower sales income.

The company had registered a profit of Rs 271 crore in a year ago quarter. It had profit of Rs 355 crore in March quarter.

Net sales of the company declined 5% at Rs 1,470 crore on YoY basis.

The company’s aluminium unit reported a loss of Rs 13.89 crore before taxes and interest against a profit of Rs 31.09 crore.

Till 10:24 AM, a combined 1.4 million shares changed hands on the counter on the BSE and NSE.