Hindalco Industries is trading lower by over 4% at Rs 90, in otherwise firm market, ahead of April-June (Q1) earnings today.
The stock opened at Rs 92 and touched low of Rs 89.70 in noon deals on NSE. A combined 6.32 million shares have changed hands on the counter till 1215 hours on NSE and BSE.
According to brokerage houses, the company’s net profit for the quarter ended June is estimated to be lower than in the previous quarter, owing to a drop in net sales.
Analyst at Edelweiss Securities expect year on year (YoY) drop in the company’s standalone revenues due to lower LME prices and copper plant maintenance shutdown impacting copper volumes.
Led by the revenue decline, earnings before interest, taxes, depreciation and ammortisation or EBITDA is expected to decline 14% YoY, added analyst.
Meanwhile, Hindalco’s wholly-owned subsidiary Novelis’ Q1FY14 adjusted EBITDA (excluding USD 14 million of non-recurring employee plan) declined 16% YoY to USD 218 million due to lower volumes and pricing pressure in the can business in North America.
According to brokerage houses, the company’s net profit for the quarter ended June is estimated to be lower than in the previous quarter, owing to a drop in net sales.
Analyst at Edelweiss Securities expect year on year (YoY) drop in the company’s standalone revenues due to lower LME prices and copper plant maintenance shutdown impacting copper volumes.
Led by the revenue decline, earnings before interest, taxes, depreciation and ammortisation or EBITDA is expected to decline 14% YoY, added analyst.
Meanwhile, Hindalco’s wholly-owned subsidiary Novelis’ Q1FY14 adjusted EBITDA (excluding USD 14 million of non-recurring employee plan) declined 16% YoY to USD 218 million due to lower volumes and pricing pressure in the can business in North America.
