Hindalco Industries' Q1 consolidated net at Rs 1,063 cr, down 28% YoY

Lower LME prices, global downturn impact performance

Hindalco Industries, the flagship company of Aditya Birla Group company, today reported a consolidated net profit of Rs 1,063 crore in the June quarter, down 28 per cent from corresponding period last year on the back of weak LME prices.

"While profits were impacted by the global downturn and lower commodity prices, Hindalco held its ground and delivered a steady performance. Novelis led from the front to achieve record quarterly results, and the Indian businesses put up a resilient show amid subdued economic conditions," said Satish Pai, managing director at Hindalco Industries.

The company’s topline in the period under review