Hindalco Q2 profit dips 21% to Rs 3 bn as rising input costs hit expenses

Hindalco's bottomline including earnings from Utkal Alumina stood at Rs 7.25 bn, up 54% from last year

Hindalco Industries Friday reported a lower-than-expected net profit of Rs 3.08 billion, down 21.4 per cent from the same period last year as increased power and fuel costs pushed up total expenses even as net sales jumped in the period under review.

Net sales of the Aditya Birla Group company stood at Rs 108.33 billion, up 5 per cent from the same period last year.

As per a Bloomberg estimate, the company’s topline was seen at Rs 106.85 billion while the bottomline was expected to be at Rs 4.75 billion.

The power and fuel cost for the company rose 13