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Hindalco Q2 net rises 18%
Mumbai, Oct 23: Hindalco Industries, the country`s largest aluminium producer, reported on Thursday its quarterly net profit rose 18 per cent, beating expectations.
Mumbai, Oct 23: Hindalco Industries, the country’s largest aluminium producer, reported on Thursday its quarterly net profit rose 18 per cent, beating expectations.
Hindalco said it had a net profit of Rs 228 milllion ($50.3 million) in the second quarter ended September 30, compared with Rs 193 million in the same period a year earlier.
It said net sales were Rs 1,475 million, compared with Rs 1,206 million a year earlier.
The median of four analysts' estimates for net profit was Rs 214 million.
Hindalco, part of India's diversified Aditya Birla group, is also a leading copper producer, following its acquisition of group firm Indo Gulf Corporation's copper business in January this year in a restructuring exercise.
Bureau Report