Q1 earnings: Hindalco net profit rises 12% to Rs. 474 cr | business | Hindustan Times
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Q1 earnings: Hindalco net profit rises 12% to Rs. 474 cr

Aditya Birla Group company Hindalco Industries on Tuesday announced a 12% year-on-year rise in standalone net profit to Rs. 474 crore for the first quarter ended June 30, 2013 from Rs. 425 crore a year-ago.

business Updated: Aug 13, 2013 22:10 IST
HT Correspondent

Aditya Birla Group company Hindalco Industries on Tuesday announced a 12% year-on-year rise in standalone net profit to Rs. 474 crore for the first quarter ended June 30, 2013 from Rs. 425 crore a year-ago.

“The performance (in April-June quarter) was achieved despite adverse macro-economic headwinds,” the company said in a statement.

Other income rose 42% to Rs. 428 crore in April-June including a non-recurring income of Rs. 103 crore and a dividend of Rs. 100 crore from a subsidiary.

The company said it is re-evaluating the investment strategy for the Aditya alumina refinery in Odisha and the Jharkhand aluminium projects due to “delays in getting various regulatory approvals and the uncertain economic environment.”