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HomeBusinessHindalco Q3 Profit Rises 7.5% to Rs. 359 Crore

Hindalco Q3 Profit Rises 7.5% to Rs. 359 Crore

Aluminium and copper producer Hindalco Industries on Thursday posted a 7.5 per cent rise in quarterly profit, helped by higher volumes and realisations in both businesses.

Net income for the quarter ended December 31, Hindalco’s fiscal third, rose to Rs. 359 crore from Rs. 334 crore a year earlier, the flagship company of the Aditya Birla conglomerate said in a statement.

Net sales rose 17.6 per cent in the quarter to Rs. 8,472 crore.

Analysts, on average, expected the company to post a net profit of Rs. 447 crore, according to Thomson Reuters data.

The company said while coal availability was impacting the pace of ramp-up in its new aluminium projects, it was looking for a faster resolution after the upcoming coal auctions.

Hindalco shares were trading up 1 per cent, while the broader Mumbai market was down 0.23 per cent in afternoon trade on Thursday.

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