Hindalco rises 2% on 7.5% jump in profit

Shares of aluminium and copper producer Hindalco are trading higher by nearly 2% to Rs 153 on the BSE after it posted a 7.5% jump in the quarterly profit, bolstered by higher volumes and realisations in both businesses.

Meanwhile, net income for the third quarter rose to 3.59 billion rupees ($57.52 million) from 3.34 billion rupees a year earlier, the flagship company of the Aditya Birla conglomerate said in a statement .

Revenue grew 17.7 % to Rs 8,472 crore during October-December quarter from Rs 7,201 crore in same quarter last year, driven largely by aluminium business. 

Further, operating profit of the company jumped 46.7% to Rs 923 crore and margin expanded 200 basis points to 10.7% in the third quarter on a yearly basis.

 

The stock opened at Rs 152, touched a high of Rs 153 and a low of Rs 149 on the BSE. A total of 1,118,229 shares changed hands on the BSE so far.