Hindalco Q4 net up by 147 per cent
Aditya Birla Group company Hindalco Industries has registered a 147 per cent increase in net profit for the quarter ended March 2010 at Rs 664 crore, from Rs 269 crore it logged in the corresponding quarter last year.business Updated: May 11, 2010 23:09 IST
Aditya Birla Group company Hindalco Industries has registered a 147 per cent increase in net profit for the quarter ended March 2010 at Rs 664 crore, from Rs 269 crore it logged in the corresponding quarter last year.
The company’s net sales stood at Rs 5,404 crore — a growth of 43 per cent over the same quarter in 2009.
For the year ended March, 2010, net sales grew by 7 per cent to Rs 19,536 as a result of the highest-ever metal volumes, better product and geographic mix even though commodity prices were subdued.
The EBIDTA growth for the company stood at 166 per cent in Q4 of 2008-09.
“We reduced our cost of production significantly by reducing our fixed cost by producing more and also by using material that were lower in cost,” said, D Bhattacharya, managing director, Hindalco Industries. “We have also increased our product mix.”
In the financial year 2009-10 the company witnessed a drop in the interest and financing charges from Rs 337 crore in 2008-09 to Rs 278 crore.
“The adverse impact of the rupee appreciation, higher coal cost and lower by-product credit has been largely offset by the improved efficiencies in the quarter,” said the company in its statement.
During the quarter the aluminium business contributed to Rs 2,045 crore of the total revenue while the copper business contributed Rs 3,361 crore. The revenue from the copper business rose by 52 per cent from Rs 2,213 crore a year ago.