Hindalco is trading nearly 2% lower at Rs 193 levels on the Bombay Stock Exchange after it posted a consolidated net profit of Rs 2,456.3 crore for the year ended March 2011, as compared to Rs 3,925.4 crore for the year ended March 2010, a decline of 37%.
Total Income has increased from Rs 61,030 crore for the year ended March 31, 2010 to Rs 72,508.7 crore for the year ended March 31, 2011, an increase of 18.8%. The board of directors have recommended dividend of Rs 1.50 per share. Together with the corporate dividend tax of Rs 46.59 crore, the total payout works out to Rs 333.75 crore.
The stock opened at Rs 199.3 today and touched an intraday low of Rs 192.55. Around 6,71,804 shares have been traded till 2:20pm.
