Hindalco net rises 7.5% at Rs 643 crore

Hindalco Industries, the diversified metals producer and flagship company of the Aditya Birla Group, has posted a 7.56 per cent rise in net profit at Rs 642.80 crore for the September quarter, as compared with Rs 597.6 crore in the corresponding period last year.

Net sales during the quarter rose to Rs 4,959.70 crore from Rs 4,634.20 crore, up 7.02 per cent.

Increased metal production, debottlenecking of smeltor assets and measures to reduce input costs contributed to better profits.

But the company continues to feel the pressure from a strengthening rupee and the decrease in import duty on aluminium.

"It has been one of the toughest quarters we have faced and this situation is likely to continue," said Managing Director D Bhattacharya.

He said total costs of projects planned till 2013 will amount to about $ 6-7 billion (more than Rs 25,000 crore).