Improved infrastructure carried out by the Indian Government, resulting in boosted demand for the metal produced by the state-run manufacturer, caused NALCO’s profit growth.
India, one of the world’s biggest aluminium producers, has raised its budget on infrastructure ahead of general elections next year, which helped companies NALCO and its rival Hindalco Industries.
As per a Reuters report, NALCO has recorded about a 14 per cent jump in pre-tax profit in the mainstay aluminium segment for Q2 FY2024, accounting for around 80 per cent of the company’s total pre-tax profit.
In the same quarter, NALCO’s chemical segment, which makes calcined alumina, registered a hike of 27.7 per cent in pre-tax profit to reach INR 1.12 billion.
