| Hindalco Industries reported a 7 per cent dip in its net profit at Rs 276.5 crore for the quarter ended September 2005 as against Rs 298 crore in the corresponding period last year.
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| Revenues increased by 8 per cent to Rs 2,660.8 crore as against Rs 2,455.9 crore last year. The PBDIT stood at Rs 580 crore and Rs 647 crore, a drop of 10 per cent. Profit before tax was 20 per cent lower at Rs 398.2 crore from Rs 494.7 crore.
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| The aluminium business revenue went up by 10 per cent at Rs 1,414 crore as against Rs 1,290 crore last year. The copper business clocked a 7 per cent increase in its revenue at Rs 1,246.4 crore from Rs 1,163.3 crore.
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| For the half year ended September 2005, net profit went up by 13 per cent to Rs 601.4 crore from Rs 533.6 crore last year. Revenue was up eight per cent at Rs 4,868.6 crore from Rs 4,517.5 crore.
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| PBDIT for the half year stood at Rs 1,218 crore from Rs 1,159 crore last year, an increase of 5.1 per cent. Profit before tax in the corresponding period was Rs 271.8 crore from Rs 857.5 crore, a growth of 2 per cent.
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| D Bhattacharya, managing director, reasoned the drop in profit at the challenging conditions of the copper business. “Aluminium business is doing well. But same can’t be said of copper.
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| Lower import duty, removal of export benefits, a 5 per cent appreciation in the domestic currency, floods in Gujarat and underperformance and under utilisation of two smelters are the reasons for the downturn of the copper business,” he said. |
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