Shares of National Aluminium Company (Nalco) today plunged almost 10 per cent after the company reported 40 per cent decline in net profit for the quarter ended June 30.
Nalco's scrip declined by 9.69 per cent to settle at Rs 33.10 on the BSE. In intra-day trade, it tumbled 10 per cent to Rs 32.95 -- its 52-week low.
On the NSE, the stock plummeted 9.72 per cent to Rs 32.95 at close.
The company witnessed an erosion of Rs 914.34 crore to Rs 8,530.66 crore in market valuation.
Nalco had yesterday reported 40 per cent dip in net profit at Rs 163.44 crore for the April-June quarter of the current fiscal.
It had posted a net profit of Rs 270.99 crore in the year-ago period.
Total income of the aluminium producer fell by 16 per cent to Rs 1,491.27 crore during the quarter, as against Rs 1,680.04 crore in the same quarter of 2014-15.
Total expenses of the company fell to Rs 1,366.55 crore from Rs 1,499.06 crore in the reported quarter.
