NALCO Registers 76% Jump in Aluminum Segment Profit in FY25 Q1, Citing Cost Reductions and Global Price Hikes

Опубликовано: Aug 12, 2024 21:50
NALCO Reports 76% QoQ Increase in Aluminum Segment Profit in FY25 Q1" On August 12, the National Aluminum Company Limited (NALCO) released its financial results for the first quarter of fiscal year 25. The report indicated a 76% quarter-on-quarter (QoQ) increase in profits for the aluminum segment during the quarter (April-June). One of the key reasons behind this surge is the reduction in production costs, with raw material costs declining by 28.4% QoQ and energy and fuel costs dropping by 6.7% QoQ. Additionally, global base metal prices, including aluminum, saw significant increases during the quarter due to supply concerns and rising demand. The quarterly average price of LME three-month aluminum increased by 14.47% QoQ. According to India's Investment Information and Credit Rating Agency (ICRA), domestic aluminum demand in India is expected to maintain steady growth in the second half of 2024, fueled by robust demand from the electrical, construction, and infrastructure sectors, as well as the recovery in demand for durable consumer goods.

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