Hindalco Indst Q4 net profit jumps 6.6 pc to Rs 708 cr

Aditya Birla Group company Hindalco Industries reported 6.6 per cent jump in its net profit.

Aditya Birla Group company Hindalco Industries on Monday reported 6.6 per cent jump in its net profit at Rs 708 crore for the fourth quarter ended March 31.

It had posted a net profit of Rs 664 crore during the corresponding quarter of 2009-10,Hindalco Industries said in a statement.

Net sales of the country’s largest aluminium producer went up by 27 per cent to Rs 6,846 crore during the quarter compared to Rs 5,397 crore reported in the fourth quarter of 2009-10.

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“Net sales at Rs 6,846 crore in Q4FY11 were up 27 per cent over Q4FY10. Better geographic and product mix along with higher LME (London Metal Exchange) and better copper volume have been the main performance drivers,” said the company statement.

“For the year 2010-11,Alumina production was up by 3 per cent. Metal production was lower due to power outrage at Hirakud in Q2FY11,” it said.

Elaborating on its growth’s outlook,Hindalco said that spiralling input costs,especially energy prices,posed a serious challenge until greenfield projects came on stream.

On industry outlook,it said,”Global aluminium demand remained strong in the last quarter with y-o-y growth of 10 per cent…The healthy trend in global demand is likely to continue,” it said.

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