Shares of the Hindalco rose more than 10 per cent on Monday after the company reported net profit of Rs 356 crore for the quarter ended March 2016.
This improvement was primarily on the back of higher volumes, aided by improved realisations. The cost pressures abetted significantly on account of lower energy costs, especially coal and this saw us deliver a strong performance, the company said in the press release.
In this quarter, the company's total turnover dropped 8 percent at Rs 8667.9 crore compared to Rs 9371.6 crore year-on-year.
Earnings per Share (EPS) stood lower by Rs 3.15 and Rs 3.30 for quarter and year ended March 31, 2016 respectively while Consolidated Basic and Diluted EPS for the year ended was lower by Rs 3.30.
The company's operational revenues dropped 7.5% at Rs 8,668 crore against Rs 9,372 crore due to sharp decline in aluminium and copper realisations.
Shares of the company were seen trading at Rs 102, higher by 11.38 per cent on BSE at 12.34 pm IST.