Hindalco net profit up 40%

BS 200 SCORECARD

Helped by record metal prices, Hindalco Industries, the flagship company of the Aditya Birla Group, reported 40 per cent rise in net profit at Rs 626.3 crore for the quarter ended March 31, 2006, as compared with Rs 448.5 crore in the corresponding quarter of the previous fiscal.

The company reported 45 per cent growth in net sales at Rs 3,657.4 crore during this quarter as compared with Rs 2,515.6 crore in the corresponding period of the previous year.

Hindalco's net profit for the whole year 2005-06 rose by 25 per cent at Rs 1,655.5 crore for the period ending March 31, 2006, as compared with Rs 1,329.4 crore reported in the previous year. Net sales for the year stood at Rs 11,396.5 crore, up by 20 per cent from Rs 9,523.1 crore of the previous year. The company also declared a dividend of 220 per cent for the year 2005-06.

While Hindalco's aluminium production reached highest ever levels with 105 per cent capacity utilisation, its copper cathode production dropped marginally owing to shutdowns and delayed ramp ups.

"But next year we expect the copper cathode production to touch the 3.5 lakh tonne annual level from the present 2.1 lakh tonne," said D Bhattacharya, managing director.