We have cut back on our capital expenditure for this year: Hindalco MD

In a Q&A, Satish Pai says his firm switched to higher exports in April and May as domestic demand was weak. And while metal prices remain low, around 80% of its Ebitda remains unaffected by price

With a focus on reducing cost due to Covid-19, Hindalco plans to scale down capital expenditure this year. At Rs 1,395 crore, the company on Friday reported a 19 per cent fall in profit before tax and exceptional items for the quarter ending March 2020 over the same period previous year. Satish Pai, managing director for Hindalco Industries, told Amritha Pillay, the company also switched to higher exports in April and May as domestic demand was weak. While metal prices remain low, the executive added around 80 per cent of his Ebitda remains unaffected by the price change. Excerpts.

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