Hindalco Inds Q4 PAT more than doubles to Rs 356 crore, sales down 7% on lower realisations
NEW DELHI: Aluminium maker Hindalco Industries on Saturday reported a standalone net profit of Rs 356.33 crore for the quarter ended March 31.
This was 123.36 per cent higher than a net profit of Rs 159.53 crore the company reported in the corresponding quarter of last year.
The company said its net sales declined 7.33 per cent YoY to Rs 8,542.66 crore in the March quarter from Rs 9,219.25 crore in the
same quarter of last year, due to sharp fall in aluminium and copper realisations.
Aluminimum production for the company grew 27 per cent year-on-year (YoY) to Rs 307 KT. The company said it achieved significant cost efficiencies and had witnessed supportive input costs on account of fall in crude and coal and derivative prices.
The average aluminium and copper prices on LME (in dollar terms) fell by 16 per cent and 20 per cent, respectively on YoY basis.