Hindalco Q1 Net down 34% as costs bite | business | Hindustan Times
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Hindalco Q1 Net down 34% as costs bite

business Updated: Aug 14, 2012 22:27 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Hindalco Industries, an Aditya Birla Group company, on Tuesday announced a standalone net profit of Rs 425 crore for the April-June quarter, down by 34% against the same period a year ago, on surge in the input costs.

The company had a net profit of Rs 644 crore in the first quarter last year.

D Bhattacharya, managing director, Hindalco said, “It has been an extremely challenging quarter as LME aluminium went down 24% year-on-year. The surge in input costs such as coal, caustic soda and carbon products further pared earnings by nearly Rs 200 crore.”

Revenue in the July quarter was Rs 6,028 crore, almost flat compared to Rs 6,031 crore a year ago. Revenue from copper was R3,972 crore this quarter against Rs 3,940 crore in the corresponding quarter last year. "The performance of the Copper Business was low due to a planned shutdown during the quarter,” the company said in a statement.