Hindalco Q1 net flat at Rs 603cr

Hindalco Industries has posted a net profit of Rs 602.9 crore for the quarter ended June 30, 2007 when compared with Rs 601.5 crore for the quarter ended June 30, 2006.

According to an official release issued by the company to the BSE today, total income has increased to Rs 4802.5 crore from Rs 4351.3 million for the quarter ended June 30, 2006.

The board of the company at its meeting held today has approved the proposal of amalgamation of Indian Aluminium Company into it. All assets, liabilities and obligations of Indal will vest in the company with effect from April 01, 2007, a separate release issued today said.

The board has also approved issuing of 1 preference share of Rs 2 each against 1 share of Rs 2 of INDAL held by Indal shareholders, the release added.