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Hindalco Industries Q3 net profit rises 18% to Rs 377 cr

twitter-logo PTI        Last Updated: February 2, 2018  | 15:20 IST

New Delhi, Feb 2 (PTI) Aditya Birla Group company Hindalco Industries today reported a 17.65 per cent rise in its standalone net profit to Rs 377.14 crore for the third quarter ended December 31.

The aluminium maker had clocked a profit of Rs 320.56 crore in the corresponding quarter previous fiscal.

The net profit is "after considering a provision of Rs 115 crore, based on a judgement of the Supreme Court on mining regulations," Hindalco Industries said.

The companys revenues from operations were higher at Rs 11,023 crore as compared to Rs 9,914.81 crore in Q3 FY17, led by macro factors, volumes and by-product realisation, it said.

Its total expenses in the December quarter increased to Rs 10,576.13 crore, as compared to Rs 9,675.44 crore in the same period a year ago.

"Depreciation rose by 7 per cent Y-O-Y, on account of progressive capitalisation. Interest expense for the quarter was lower by 18 per cent due to prepayment and re-pricing of long term loans," the company said.

The revenue for aluminium segment for the third quarter of the current fiscal was rose to Rs 5,323 crore, mainly due to higher sales of aluminium metal and increased realisation.

Driven by higher realisation, the revenue from copper segment surged to Rs 5,701 crore.

Aluminium metal production stood at 323 kilo tonne and alumina at 734 kilo tonne in the October-December quarter.

Shares of the company were trading down 2.26 per cent at Rs 251.15 on BSE. PTI NAM BAL

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