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Hindalco misses estimates in Q3

Lower profitability in copper business partly offsets gains from higher aluminium volumes and prices

Aditi Divekar & Ujjval Jauhari  |  Mumbai/New Delhi 

Hindalco Industries, the country's largest aluminium producer, on Monday reported a lower-than-expected net profit of Rs 320.56 crore in December quarter, on a standalone basis. Bloomberg consensus estimate had pegged the figure at Rs 396 crore. Even though revenues from both aluminium and copper segments improved, the miss was largely led by weaker-than-expected by-product (copper division) prices like those of sulphuric acid and di-ammonium phosphate. Raw material (largely energy) prices for making aluminium also came marginally higher than analysts’ estimates. The ...

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