Hindalco reports 43% rise in Q1 net profit at Rs 413.5 crore; posts good operational show
Aluminium major, Hindalco, reported 43 percent rise in the net profit for June quarter at Rs 413.5 crore, against Rs 289.5 crore that the company reported last year.
Its revenues grew 8.4 percent at Rs 10,593 crore against Rs 9,775 crore seen during the corresponding quarter of last year.
At an operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 15 percent at Rs 1,325 crore against Rs 1,153 crore year on year. The operating margin came in at 12.5 percent against 11.8 percent YoY.
The company reported a drop in its other income at Rs 105.5 crore against R 256.3 crore.
Novelis, the wholly owned subsidiary of Hindalco Industries, recently posted a 10 percent increase in net income at USD 113 million in the June quarter on better operational performance and higher capacity utilisation.
The company, which deals in aluminium rolled products, had reported a net income of USD 103 million in the same period last year.
However, including some tax benefits, the firm reported a net income of USD 137 million, against USD 101 million in year-ago period, attributable to its common shareholder, it said in a statement.
At 14:42 hrs Hindalco Industries was quoting at Rs 221.60, down Rs 5.85, or 2.57 percent, on the BSE. It touched an intraday high of Rs 229.95 and an intraday low of Rs 220.10.
(With inputs from PTI)