Leading metals producer Hindalco Industries today reported 24.68 per cent decline in standalone net profit at Rs 482.03 crore for the fourth quarter ended March 31,2013,mainly due to fall in sales and significant rise in interest outgo.
The flagship firm of Aditya Birla group had reported a standalone net profit of Rs 639.99 crore in the fourth quarter of 2011-12. The company did not publish its consolidated results for the last quarter.
Hindalco’s net sales was down 8.56 per cent at Rs 6,915.59 crore during the quarter as both the business segments of the company,aluminium and copper,reported decline in revenues,it said in a filing to the BSE. The company had reported a net sales of Rs 7,563.33 crore in Q4 of FY’12.
While the gross revenues from aluminium was down 4.10 per cent to Rs 2,396.09 crore in the last quarter,copper revenues declined by 10.63 per cent to Rs 4,606.65 crore.
Besides,its finance costs also increased by nearly 97 per cent to Rs 157.67 crore.
For the full year ended March,2013,Hindalco reported an over 24 per cent drop in its standalone net profit to Rs 1,699.20 crore vis-a-vis Rs 2,237.20 crore of FY’12. The standalone net sales declined to 2.16 per cent to Rs 25,784.31 crore during the last fiscal.
The standalone results are performance of Hindalco’s Indian operations.
On a consolidated basis,Hindalco’s net profit was net profit was down 10.89 per cent at Rs 3,026.89 crore during the last fiscal as compared to Rs 3,396.95 crore of FY’12. Its consolidated net sales also declined marginally by 0.86 per cent to Rs 79,705.51 crore in the last fiscal.
The consolidated results include performances of Novelis Inc — the US based subsidiary of Hindalco– and Aditya Birla Minerals Ltd.
The Hindalco Board has recommended a dividend of Rs 1.40 per share for the last fiscal. This will cost the company about Rs 313.60 crore.
Shares of the company fell 0.50 per cent to close at Rs 109.95 apiece on the BSE today.