Hindalco Q4 net at Rs 160 crore, misses estimates

Aluminium and copper producer Hindalco Industries Ltd on Thursday posted a drop in quarterly profit that missed estimates, hurt by lower margins.

Net income for the quarter ended March 31, Hindalco's fiscal fourth, was Rs 160 crore ($25.1 million) compared with Rs 248 crore a year earlier, the flagship company of the Aditya Birla conglomerate said in a statement.

Net sales came in at Rs 9,219 crore, compared with Rs 8,360 crore a year ago.

Analysts, on average, had expected the company to post a net profit of Rs 293 crore, according to Thomson Reuters data.

($1 = 63.8000 rupees)