This metal bet from Rakesh Jhunjhunwala declares a stellar Q3 result!
NALCO has delivered a multibagger return of 137% to its shareholders in the last 12 months.
National Aluminium Company Limited (NALCO) has reported a phenomenal jump of 246% in net profits at Rs 830.67 crore for the December quarter FY 2022 as compared to Rs 239.71 on a YoY basis. The spike in profit was achieved on highest ever quarterly total and export turnover.
The company has also broken the highest profit figure clocked since inception for the first nine-month period, with a net profit of Rs 1926 crore for the period ending December 2021, a substantial jump of 429% over Rs 364 crore posted in the corresponding period of the previous fiscal.
The metal miner has reported total revenue from operations in Q3 of FY22 of Rs 3773.26 crore compared to Rs 2378.79 crore on a YoY basis witnessing a jump of 57%.
The stellar performance was driven by the sustained supply of raw material, optimized production, strategic sourcing of power, particularly during the period of coal crisis, better realization and effective capacity utilization of its operational units, stated the company in its press release on Monday.
Ace investor Rakesh Jhunjhunwala had acquired a 1.4% stake in this debt-free PSU ( a Navratna CPSE) during the September quarter of FY 2021-22. Since then the stock has been on the investor’s radar.
NALCO has delivered a multibagger return of 137% to its shareholders in the last 12 months. The stock was rallying in the Pre as well as Post Budget excitement. The Big Bull Rakesh Jhunjhunwala also stated his bullish views on the metal sector. The stock has jumped 9.32% in the last one week from the levels of Rs 108.80 to Rs 119.
The stock gained 1% in yesterday’s trading session in anticipation of strong quarterly results declared post market hours. The stock has since seen some profit booking and is trading flat at Rs 118.95 at 3.13 pm today.
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