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Nalco declines after weak Q2 show

Capital Market 

National Aluminium Company fell 3.79% to Rs 41.85 after the company reported a consolidated net loss of Rs 28.25 crore in Q2 September 2019 compared with net profit of Rs 510.55 crore in Q2 September 2018.

Consolidated net sales tumbled 22.27% to Rs 2,363.55 crore in Q2 September 2019 over Q2 September 2018. The result was announced after market hours yesterday, 13 November 2019.

Meanwhile, the S&P BSE Sensex was down 15 points or 0.04% to 40,101.15. The S&P BSE Metal index was down by 1.02% to 9,418.17.

The company has stated it has an irrevocable option of shifting to a lower tax rate foregoing other tax incentives. The firm has not exercised the option for the current period and continues to recognise the taxes on income for the quarter and six months ended 30 September 2019.

The stock was trading in the range of Rs 42.40 to Rs 41 so far during the day.

National Aluminium Company is engaged in the production of alumina, aluminum and power. The company operates in three segments: chemicals, aluminium and unallocated common. chemicals include calcined alumina, alumina hydrate and other related products.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 14 2019. 11:01 IST
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