 "Hindalco Q3 net rises 7.5% to Rs 359 crore")
Aluminium and copper producer Hindalco Industries on Thursday posted a 7.5% rise in quarterly profit, helped by higher volumes and realisations in both businesses.
Net income for the quarter ended Dec 31, Hindalco's fiscal third, rose to Rs 359 crore ($57.52 million) from Rs 334 crore a year earlier, the flagship company of the Aditya Birla conglomerate said in a statement.
Net sales rose 17.6% in the quarter to Rs 8,472 crore.
Analysts, on average, expected the company to post a net profit of Rs 447 crore, according to Thomson Reuters data.
The company said while coal availability was impacting the pace of ramp-up in its new aluminium projects, it was looking for a faster resolution after the upcoming coal auctions.
Hindalco shares were trading up 1%, while the broader Mumbai market was down 0.23% in afternoon trade on Thursday.
($1 = 62.4125 rupees)