Hindalco Q2 net profit down 31% on one-time exceptional loss of Rs 256 cr

The company informed that the new lower corporate tax option cannot be availed for its India operations for atleast next 5-7 years due to its existing MAT credit

Hindalco Industries, the flagship Aditya Birla Group company, reported consolidated profit before tax of Rs 1,492 crore in the July-September quarter (second quarter, or Q2), down 31 per cent from the same period last year on the back of lower realisations and one-time exceptional loss of Rs 256 crore. 

“Aluminium realisations (in domestic operations) declined 14 per cent year-on-year, while copper realisations have fallen 10 per cent, in turn hurting the revenue stream,” Satish Pai, managing director at Hindalco Industries, told reporters at the earnings conference in Mumbai.

The company’s consolidated net sales stood at Rs 29,657 crore in the period under