Hindalco Industries declines after reporting Q3 results

Hindalco Industries dropped 4.03% to Rs 246.60 at 14:02 IST on BSE after the company announced Q3 results.

The result was announced during market hours today, 2 February 2018.

The S&P BSE Sensex was down 640.98 points or 1.79% to 35,265.68.

High volumes were witnessed on the counter. On the BSE, 10.5 lakh shares were traded in the counter so far, compared with average daily volumes of 5.78 lakh shares in the past one quarter. The stock had hit a high of Rs 261.50 and a low of Rs 246.15 so far during the day. The stock had hit a record high of Rs 283.95 on 5 January 2018. The stock had hit a 52-week low of Rs 179.25 on 22 February 2017.

Hindalco Industries' net profit rose 17.5% to Rs 376 crore on 11.17% rise in revenue from operations to Rs 11023 crore in Q3 December 2017 over Q3 December 2016.

The revenue rose led by macro factors, volumes and by-product realisations. Earnings before interest, tax and depreciation (EBITDA) rose 15% to Rs 1611 crore in Q3 December 2017 over Q3 December 2016 driven by higher volumes in both businesses and supportive macros partially offset by higher input costs.

Net profit rose after considering a provision of Rs 115 crore based on a judgement of the Supreme Court on mining regulations.

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

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