Hindalco net up 11% at Rs 196 crore

Hindalco Industries, the Aditya Birla gourp metals major, has posted a net profit of Rs 196.1 crore in the third quarter ended December 31 against Rs 177.3 crore in the corresponding period previous year, a growth of 10.6 per cent.

Net sales surged 32.6 per cent at Rs 1,658.9 crore (Rs 1,251 crore). The aluminium division's net sales rose 45.9 per cent to Rs 761.2 crore (Rs 521.5 crore).

Although rising international aluminium prices has augmented the company's performance, appreciating rupee and intensified competition capped realisations, the company said in a release. Net sales from the copper business rose 23.4 per cent to Rs 900.8 crore.

But operating margins in the business almost halved to 10.9 per cent (20.2 per cent). Interest and financing charges increased at Rs 37.1 crore (Rs 33.1 crore). Depreciation charges have risen to Rs 80.5 crore (Rs 67.1 crore).