Hindalco Industries dipped 3.6% to Rs 99.75 on NSE after reporting 23% year-on-year (yoy) fall in standalone net profit at Rs 334 crore for the third quarter ended December 31, 2013 (Q3FY14), due to higher raw material cost and tax outgo.
The flagship company of Aditya Birla Group had reported profit of Rs 434 crore, which included one-time gain of Rs 144 crore, in the same quarter previous fiscal.
Revenue from operations grew 5.8% yoy at Rs 7,273 crore in Q3FY14, driven by higher volume, Hindalco Industries said in a statement.
Analysts on an average had expected profit of Rs 290 crore on revenue of Rs 6,797 crore for the quarter.
The company said, improved operating efficiencies cushioned the adverse impact of higher input cost and lower realization.
EBITDA or operating profit margins remained flat at 8.67% during the quarter under review, as compared to 8.47% in the corresponding quarter of last year.
The flagship company of Aditya Birla Group had reported profit of Rs 434 crore, which included one-time gain of Rs 144 crore, in the same quarter previous fiscal.
Revenue from operations grew 5.8% yoy at Rs 7,273 crore in Q3FY14, driven by higher volume, Hindalco Industries said in a statement.
Analysts on an average had expected profit of Rs 290 crore on revenue of Rs 6,797 crore for the quarter.
The company said, improved operating efficiencies cushioned the adverse impact of higher input cost and lower realization.
EBITDA or operating profit margins remained flat at 8.67% during the quarter under review, as compared to 8.47% in the corresponding quarter of last year.
The stock opened at Rs 104 and touched high of Rs 105 on NSE, before announcement of results. A combined 13.19 million shares changed hands on the counter so far on the NSE and BSE.
