Hindalco almost flat after Q2 results

Hindalco Industries was up 0.35% to Rs 271.10 at 14:23 IST on BSE after net profit fell 10.68% to Rs 393 crore on 7.80% increase in revenue from operations to Rs 10308 crore in Q2 September 2017 over Q2 September 2016.

The result was announced during trading hours today, 3 November 2017.

On the BSE, 8.91 lakh shares were traded in the counter so far, compared with average daily volumes of 7.09 lakh shares in the past one quarter. The stock had hit a high of Rs 277.70 and a low of Rs 269.75 so far during the day. The stock hit a record high of Rs 278.50 on 23 October 2017. The stock hit a 52-week low of Rs 148.05 on 27 December 2016.

The stock had outperformed the market over the past one month till 2 November 2017, rising 11.86% compared with 6% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.04% as against Sensex's 3.86% rise. The scrip had also outperformed the market in past one year, rising 66.35% as against Sensex's 22.39% rise.

The large-cap aluminium producer has equity capital of Rs 224.43 crore. Face value per share is Re 1.

Hindalco Industries said it incurred a one-time expense of Rs 106 crore in Q2 September 2017, based on various recent judgements pronounced by the Supreme Court.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5.63% to Rs 1577 crore in Q2 September 2017 over Q2 September 2016, on account of higher aluminium volumes and supportive macro factors, partly offset by higher input costs and lower volumes in copper segment.

Separately, Hindalco's overseas arm Novelis reported strong Q2 September 2017 results yesterday, 2 November 2017.

On a consolidated basis, Novelis reported net income of $307 million in Q2 September 2017, compared to a net loss of $89 million in Q2 September 2016. Net sales increased 18% to $2.8 billion in Q2 September 2017 over Q2 September 2016, driven by higher average aluminum prices and higher total shipments.

Novelis Inc. is the global leader in aluminum rolled products and the world's largest recycler of aluminum.

Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.

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