Hindalco Q1 profit drops 31% on high fuel, finance cost

Written By Unknown on Kamis, 14 Agustus 2014 | 16.02

Total income from operations jumped 37 percent to Rs 7,996 crore in the quarter ended June 2014 from Rs 5,838 crore in same quarter last year supported by both copper as well as aluminium businesses.

Moneycontrol Bureau

World's largest aluminium rolling company  Hindalco Industries missed street expectations with the first quarter net profit falling 30.9 percent year-on-year to Rs 327.5 crore dented by higher fuel power and fuel, finance, and raw material costs. Profit in the corresponding quarter of last fiscal was Rs 474.1 crore.

Analysts had expected the Aditya Birla group company to report net profit of Rs 327.5 crore on revenue of Rs 8,100 crore for the quarter, according to CNBC-TV18 poll estimates.

Total income from operations jumped 37 percent to Rs 7,996 crore in the quarter ended June 2014 from Rs 5,838 crore in same quarter last year supported by both copper as well as aluminium businesses.

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