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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
HT Correspondent
Hindustan Times

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.”

First Published: Aug 13, 2013 22:07 IST