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Hindalco third-quarter profit plunges on higher input costs


(Reuters) - producer Ltd posted a 34.4 percent drop in third-quarter profit on Tuesday, hurt by increase in input costs, mainly of and oil.

Standalone net profit after tax was 2.47 billion rupees ($34.87 million)in the quarter ended Dec.31, compared with 3.77 billion rupees a year ago, the Mumbai-headquartered company said

The profit figure lagged analysts' estimate of a profit of 4.07 billion rupees, according to Refinitiv Eikon data.

Revenue from operations rose 8 percent to 119.38 billion rupees, the company, which produces and sells and copper products, added

(Reporting by in Bengaluru; Editing by Rashmi Aich)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 14:15 IST