Hindalco Industries Q3 net dips 2% on significant costs surge

Hindalco Industries Q3 net dips 2%
Hindalco Industries, the flagship firm of Aditya Birla group, has reported the decline of 2 per cent in net profits for third quarter ended December 31, 2011 at Rs 451 crore.

The company had posted the net profits of Rs 460 crore during the same period a year ago, said the company in its filing to the Bombay Stock Exchange on February 9, 2012.

Net sales of the company rose 11.2 per cent to Rs 6,647 crore during Q3 FY12 as compared to Rs 5,975 crore during Q3 FY11. However, the PBITDA of the company remained almost same at Rs 805 crore as the benefits of higher volume were offset by cost surge of over Rs 300 crore.

On Friday, the shares of the company were trading down at Rs 158.30 down by 0.45 points or 0.28%.

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