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Aluminium and copper producer Hindalco Industries Ltd on Thursday posted a drop in quarterly profit that missed estimates, hurt by lower margins.
Net income for the quarter ended March 31, Hindalco's fiscal fourth, was Rs 160 crore ($25.1 million) compared with Rs 248 crore a year earlier, the flagship company of the Aditya Birla conglomerate said in a statement.
Net sales came in at Rs 9,219 crore, compared with Rs 8,360 crore a year ago.
Analysts, on average, had expected the company to post a net profit of Rs 293 crore, according to Thomson Reuters data.
($1 = 63.8000 rupees)
