Nalco shares surge nearly 10 per cent on smart Q2 earnings

Shares of aluminium maker Nalco surged nearly 10 per cent in afternoon trade on Wednesday after the company reported 91 per cent jump in net profit for the second quarter ended September.

The state-run firm's scrip jumped 9.63 per cent to Rs 64.30 on the Bombay Stock Exchange (BSE).

Nalco had on Wednesday reported 91 per cent jump in net profit at Rs 341.52 crore for the second quarter ended September on higher income.

The company had clocked Rs 179.17 crore net profit in the July-September quarter of last fiscal, it had said in a BSE filing.

Total income of the company rose to Rs 1,996 crore from Rs 1,738 crore a year earlier.

Total expenses of the company rose to Rs 1,625 crore from Rs 1,599 crore. Tax expenses also increased to Rs 198 crore from Rs 83 crore.

Shares of the company were trading at Rs 61.90 a piece per scrip on BSE, up 3.25 points at 2:11 pm.