Hindalco Q2 net up 26% at Rs 434 crore | business | Hindustan Times
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Hindalco Q2 net up 26% at Rs 434 crore

business Updated: Nov 09, 2010 21:51 IST
HT Correspondent

Hindalco Industries, an Aditya Birla Group company announced a 26% year-on-year growth in its net profit for the quarter ended June-September, which stood at Rs 434 crore up from Rs 344 crore in the same quarter last year.

The company reported a 19% rise in its revenues for the quarter over the corresponding period last year as it rose to R5,860 crore.

The company said that the growth in revenues were driven by, “better product/geographic mix and improved realisation, despite lower metal volumes,” said Hindalco in its statement.

Hindalco share price rose by 0.6 % to close at R231.7 per share. The company said the metal volumes were impacted due to power outage at the Hirakud smelter, which, in turn affected production.

The company said it benefited from higher aluminium LME and better by-product realisation in its copper business.