Hindalco net profit jumps 21% in Q1 | business | Hindustan Times
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Hindalco net profit jumps 21% in Q1

business Updated: Aug 12, 2011 22:02 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Hindalco, an Aditya Birla Group company, announced a 21% year-on-year jump in its net profit at Rs 644 crore for the quarter ended June 30, 2011 as against Rs 534 profit posted in the corresponding period in 2010.

The company’s net sales at Rs 6,031 crore in April-June 2011 quarter were up 16% from Rs 5,178 crore notched up in the same period last year. The increase comes despite flat volumes, as improved efficiency at the non-ferrous metals producer offset rising inflation and input costs.

“The results would have been better, but for the increased input costs (especially coal) and an appreciating rupee,” it said in a statement.

In its outlook, Hindalco said that the environment in both aluminum and copper businesses has become very challenging due to volatile London Metal Exchange, spiralling energy and other costs and non-availability of coal.