Hindalco Industries was down 0.56% to Rs 79.35 at 15:22 IST on BSE after net profit rose 31.10% to Rs 103.27 crore on 6.43% increase in total income to Rs 9342.14 crore in Q2 September 2015 over Q2 September 2014.
The result was announced during trading hours today, 10 November 2015.
Meanwhile, the BSE Sensex was down 383.34 points, or 1.47%, to 25,738.06.
On BSE, so far 31.70 lakh shares were traded in the counter, compared with an average volume of 13.85 lakh shares in the past one quarter.
The stock recovered sharply after the Q2 result announcement in afternoon trade. The stock rose 3.76% at the day's high of Rs 82.80 in afternoon trade. The stock fell 3.26% at the day's low of Rs 77.20 so far during the day.
The stock hit a 52-week high of Rs 176.40 on 27 November 2014. The stock hit a 52-week low of Rs 67.55 on 29 September 2015.
The stock had underperformed the market over the past one month till 9 November 2015, sliding 4.60% compared with 3.54% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 27.19% as against Sensex's 7.49% decline.
The large-cap company has an equity capital of Rs 206.50 crore. Face value per share is Re 1.
Hindalco Industries' revenue from operations rose 4.34% to Rs 8925 crore in Q2 September 2015 over Q2 September 2014. Revenue edged higher despite a sharp decline in realisations. Revenue rose on the back of the production ramp up at the company's new factories.
On year on year basis, net profit was higher in Q2 September 2015 as the previous year's corresponding quarter had certain adverse exceptional items. Hindalco reported a net exceptional loss of Rs 431.22 crore in Q2 September 2014.
Profit before Interest, Tax and Depreciation (PBITDA) fell 8.93% to Rs 1020 crore in Q2 September 2015 over Q2 September 2014. Operating results for the quarter were significantly impacted by the severe drop in London Metal Exchange prices and regional aluminium premium, the macro economic factors beyond the company's control. The combined decline on year-on-year basis was around $700 per tonne of Aluminium.
Other income rose 87.44% to Rs 418 crore in Q2 September 2015 over Q2 September 2014. Higher other income for the quarter was partly on account of certain non-recurring items amounting to Rs 119 crore and partly due to dividend from subsidiaries.
With macro-economic headwinds continuing, the company's focus will be on operational excellence and cash conservation in the coming quarters, Hindalco said in a statement.
Meanwhile, the company's subsidiary Novelis yesterday, 9 November 2015, reported a net loss of $13 million for Q2 September 2015 against net profit of $38 million in Q2 September 2014. Net sales declined 12.32% to $2482 million in Q2 September 2015 over Q2 September 2014.
Excluding tax-effected special items, Novelis reported a 30.56% decline in net income to $25 million in the second quarter of fiscal 2016 compared to $36 million in the second quarter of fiscal 2015.
Novelis is the global leader in aluminum rolled products and the world's largest recycler of aluminum. The company operates in 11 countries. The company is a subsidiary of Hindalco Industries, part of the Aditya Birla Group.
Hindalco Industries will unveil its Q2 results today, 10 November 2015. The company's net profit fell 67.37% to Rs 107 crore on 7.24% growth in revenue from operations to Rs 8575 crore in Q1 June 2015 over Q1 June 2014.
A part of the Aditya Birla Group, Hindalco Industries is the world's largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.
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