)
Hindalco Industries Ltd, has reported a standalone net profit of Rs 482 crore for the quarter ended March 31, a drop of 25 per cent from the Rs 640 crore reported a year ago.
Higher interest burden contributed to the drop in profit, the company said. Finance costs shot up to Rs 158 crore in the quarter versus Rs 80 crore in the corresponding period last year.
The company said its fourth quarter revenues, too, dropped to Rs 6,994 crore, against Rs 7,647 crore in the year-ago period. Its Ebitda (earnings before interest, taxes, depreciation, and amortisation) fell 25 per cent to at Rs 644 crore. “Robust performance in copper and Novelis (its wholly-owned subsidiary) largely neutralised the margin squeeze in the aluminium business,” said Debu Bhattacharya, managing director, Hindalco.
Hindalco said the margins in its aluminium business fell due to the adverse macroeconomic factors. The average aluminium price on the London Metal Exchange (LME) in 2011-12 was $2,317 per tonne against $1,976 in 2012-13. On a sequential basis, aluminium sales for the company grew eight per cent to Rs 2,396 crore in the March quarter.
Higher interest burden contributed to the drop in profit, the company said. Finance costs shot up to Rs 158 crore in the quarter versus Rs 80 crore in the corresponding period last year.
The company said its fourth quarter revenues, too, dropped to Rs 6,994 crore, against Rs 7,647 crore in the year-ago period. Its Ebitda (earnings before interest, taxes, depreciation, and amortisation) fell 25 per cent to at Rs 644 crore. “Robust performance in copper and Novelis (its wholly-owned subsidiary) largely neutralised the margin squeeze in the aluminium business,” said Debu Bhattacharya, managing director, Hindalco.
Hindalco said the margins in its aluminium business fell due to the adverse macroeconomic factors. The average aluminium price on the London Metal Exchange (LME) in 2011-12 was $2,317 per tonne against $1,976 in 2012-13. On a sequential basis, aluminium sales for the company grew eight per cent to Rs 2,396 crore in the March quarter.
