Hindalco Q1 net profit falls 67%

Aluminium and copper producer Hindalco Industries posted a 67 per cent fall in quarterly profit, hurt by lower metal prices and realisations.

Net income for the first quarter ended June 30 dropped to Rs 107 crore ($16.4 million) from Rs 328 crore a year earlier.

Net sales for the quarter rose 7 per cent to Rs 8,517 crore. ($1 = Rs 65.1050)

(Reuters)