Hindalco Industries Q1 loss at Rs 709 cr; revenue drops to Rs 25,283 cr

Its consolidated revenue from operations during the April-June quarter dropped to Rs 25,283 crore, from over Rs 29, 972 crore in Q1 FY2019-20

Hindalco Industries on Friday posted a consolidated loss of Rs 709 crore for the quarter ended June 2020.

The compmany had posted a profit after tax (PAT) of 1,063 crore in the April-June quarter a year ago.

It said that "Q1 consolidated PAT for continuing businesses before tax-effected exceptional and special items stood at Rs 139 crore".

The Aditya Birla Group firm in a statement said that "on account of certain special items, including charitable contributions towards Covid relief, ex-gratia paid to employees for their contribution during Covid, and Aleris acquisition costs, the reported PAT was impacted".

The company, as a consequence, reported a