Hindalco slides nearly 3% as Q1 net plunges

Shares of aluminium maker Hindalco today fell nearly 3 per cent after the company reported a steep 67 per cent drop in standalone net profit for the June quarter.
The stock was down 2.63 per cent at Rs 90.85 at close on BSE. During the day, it fell 3.8 per cent to Rs 89.75.
On NSE, it dived 2.68 per cent to end at Rs 90.65.
Hindalco on Friday reported a steep 67 per cent drop in standalone net profit at Rs 107.19 crore for the quarter ended June 30, due to lower realisation.
The flagship firm of the Aditya Birla group had clocked a net profit of Rs 327.50 crore in the year-ago period, it had said in a BSE filing.

Standalone revenue went up 7 per cent to Rs 8,575.27 crore in April-June of this fiscal, from Rs 7,996.14 crore in the same quarter of 2014-15.
The company's total expenses rose 8 per cent to Rs 8,029.92 crore, from Rs 7,434.79 crore in the reported quarter.