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NALCO Share Price in Focus; Signs Mining Lease to Boost Coal Production Capacity to 4.0 MTPA

Updated on: Dec 26, 2024, 4:02 PM IST
NALCO signs a Mining Lease for Utkal-D and Utkal-E Coal Blocks, boosting coal production capacity to 4.0 MTPA, and ensuring long-term fuel security for its plant.
NALCO Share Price in Focus; Signs Mining Lease to Boost Coal Production Capacity to 4.0 MTPA
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National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, Government of India, has announced the signing of the Mining Lease deed for the amalgamated Utkal-D and Utkal-E Coal Blocks.

The deed was signed with the District Collector of Angul on December 24, 2024, in the presence of key NALCO officials. This move is set to enhance NALCO’s coal production capacity to 4.0 MTPA, bolstering fuel security for its Captive Power Plant. The lease is valid until April 21, 2051, securing a long-term supply of coal for the company’s operations.

Q2 FY 2025 Financial Highlights

NALCO has posted remarkable financial results for Q2 FY2025. The company achieved a 415% growth in net profit, reaching ₹1,062 crore, compared to ₹206 crore during the same period last year. This surge in profitability highlights NALCO’s strong performance despite challenging market conditions.

NALCO’s total income from operations during the quarter stood at ₹4,001 crore, marking a 32% growth compared to ₹3,044 crore in Q2 FY2023. This increase in revenue was driven by higher aluminium prices and efficient operations.

About NALCO

National Aluminium Company Limited was incorporated in 1981. The company is involved in the manufacturing and selling of Alumina and Aluminium.

On December 26, 2024, NALCO share price opened at ₹216.69, touching the day’s high at ₹217.17, as of 9:33 AM on the NSE.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Dec 26, 2024, 9:37 AM IST

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