Hindalco shares up 3 pc as Q1 net quadruples

Shares of aluminium maker Hindalco today rose by nearly 3 per cent after the company reported over four-fold jump in standalone net profit for the quarter ended June 30, 2016.
The scrip gained 2.78 per cent to settle at Rs 146.20 on BSE. During the day, it jumped 4.67 per cent to Rs 148.90.
At NSE, shares of the company went up by 2.88 per cent to close at Rs 146.35.
Hindalco today reported over four-fold jump in standalone net profit in excess of Rs 294 crore for the quarter ended June 30 2016, helped by better operational performance.
The Aditya Birla Group flagship had clocked a net profit of Rs 61.10 crore in the year-ago period.

It said in a BSE filing that its total standalone income fell by 11 per cent to Rs 7,716,53 crore in April-June quarter of the current fiscal, from Rs 8,667 crore during the same period of 2015-16, on account of decline in realisations.
Total expenses of the company declined to Rs 6,703.82 crore from Rs 7,993.05 crore during the period under review.