Hindalco Ind shares down over 3% post sluggish Q3 results

Shares of Hindalco Industries today lost over 3 per cent after the company reported 23 per cent decline in standalone net profit for the quarter ended December, 2013.
Hindalco closed with a loss of 3.19 per cent at Rs 100.20 on the BSE. In intra-day trade, the stock shed 3.57 per cent to Rs 99.80.
At the NSE, shares of Hindalco ended 3.38 per cent lower at Rs 100.
Hindalco Industries today reported 23 per cent decline in standalone net profit at Rs 334 crore for the quarter ended December, 2013, primarily due to lower revenues from copper business and higher tax outgo.

The flagship company of the Aditya Birla Group had reported a net profit of Rs 433.52 crore in the corresponding quarter of 2012-13, it said in a filing to the BSE.