The cut is likely to be a little less than 5% of the total workforce in these countries
Lower profitability in copper business partly offsets gains from higher aluminium volumes and prices
Company to take value-added product contribution to 80% from 35%
The stock up 5% to Rs 181 on BSE in intra-day after the company reported more than three-fold jump in standalone net profit at Rs 440 crore in Q2FY17.
Net sales of the Aditya Birla Group company stood flat at Rs 9,562 crore in the period under review
Thus far in 2016, the stock outperformed the market by surging 102%, as compared to 5% rise in Sensex.
Thus far in 2016, the stock soared 79% from Rs 85 to Rs 152, as compared to 8% rise in the S&P BSE Sensex.
In past one-month, the stock surged 43% as compared to 14% rise in Metal index and 6% gain in Sensex.
The company reported a standalone net profit of Rs 356 crore in Q4FY16, against Rs 160 crore in a year ago quarter.
Net sales slip 7.3% as realisations drop on lower metal prices and declining premiums