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India's Hindalco Q3 profit rises 7.5 percent
February 12, 2015 / 8:52 AM / 3 years ago

India's Hindalco Q3 profit rises 7.5 percent

MUMBAI, Feb 12 (Reuters) - Indian aluminium and copper producer Hindalco Industries Ltd on Thursday posted a 7.5 percent rise in quarterly profit, helped by higher volumes and realisations in both businesses.

Net income for the quarter ended Dec. 31, Hindalco’s fiscal third, 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.

Net sales rose 17.6 percent in the quarter to 84.72 billion rupees.

Analysts, on average, expected the company to post a net profit of 4.47 billion rupees, according to Thomson Reuters data.

The company said while coal availability was impacting the pace of ramp-up in its new aluminium projects, it was looking for a faster resolution after the upcoming coal auctions.

Hindalco shares were trading up 1 percent, while the broader Mumbai market was down 0.23 in afternoon trade on Thursday. ($1 = 62.4125 Indian rupees) (Reporting by Aman Shah in Mumbai; Editing by Anupama Dwivedi)

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