Business Standard

Hindalco Industries fourth-quarter profit dives 25 percent, lags estimate

Image

Reuters

(Reuters) - Aluminium producer Hindalco Industries Ltd posted a 25 percent fall in its fourth-quarter profit, widely missing street estimate.

The company's profit dropped to 3.77 billion rupees ($55.59 million) in the three months through March 31, from 5.03 billion rupees a year earlier, the company said in statement http://bit.ly/2Ioi41K.

Analysts on average expected the company to post a profit of 4.67 billion rupees, Thomson Reuters Eikon data showed.

Revenue from operations for the company, which also manufactures copper products and fertilisers, slipped about 0.6 percent to 116.81 billion rupees.

($1 = 67.8150 Indian rupees)

(Reporting by Krishna V Kurup in Bengaluru, Editing by Sherry Jacob-Phillips)

 

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 16 2018 | 2:01 PM IST

Explore News