Hindalco Industries' profit down 11%, revenue up at Rs 10,308 cr

Aditya Birla Group company Hindalco Industries on Friday reported a 10.68 per cent fall in its standalone net profit to Rs 393 crore for the second quarter (Q2) ended on September 30.

According to the company, its profit after tax stood at Rs 393 crore during Q2 FY18 as compared to Rs 440 crore in the corresponding period last fiscal.

The revenue from operations of the firm stood at Rs 10,308 crore -- 7.80 per cent higher -- from Rs 9,562 crore reported during Q2 FY17.

The company said the higher revenue was led by aluminium volumes and improved realisation across both segments.

"The overall domestic demand from user industries remained subdued in July and August, but signs of improvement were visible in September," Hindalco said in a statement.

"High level of copper imports and an increase in domestic aluminium production continue to affect domestic sales volumes."

The company said EBITDA (earnings before interest, tax, depreciation and amortisation) for the quarter under review was reported at Rs 1,577 crore, up by six per cent compared to the previous year.

The EBITDA growth was on account of higher aluminium volumes and supportive macro factors, partly offset by higher input costs and lower volumes in copper segments, it added.

On the BSE, the scrip of Hindalco Industries closed lower by 0.61 per cent at Rs 268.50 per share.

--IANS

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