Hindalco net up 35% to Rs 264.9 cr

BS 200 SCORECARD

Hindalco Industries has posted a 35 per cent increase in its net profit at Rs 264.9 crore for the quarter ended December 31, 2004, compared with Rs 196 crore in the corresponding period of the previous year.

The company's net sales were up 23 per cent at Rs 2,044.9 crore in the third quarter against Rs 1,662.8 crore reported for the quarter ended December 31, 2003.

Interest and finance charges for the period were higher by 11.3 per cent at Rs 41.4 crore compared with Rs 37.2 crore for the corresponding quarter of the previous year.

Meanwhile, depreciation costs were also up 11.5 per cent at Rs 89.8 crore against Rs 80.5 crore in the corresponding quarter of the previous year.

The aluminium business of the company accounted for 44 per cent of the net sales at Rs 901.7 crore, representing an increase of 18 per cent over Rs 761.2 crore in the corresponding period of the previous year.

About 81 per cent of the earning before interest and taxes came from the aluminium division. The company's copper business recorded net sales of Rs 1,143.2 crore, a 27 per cent jump over Rs 901.6 crore posted in the corresponding period of the previous year.