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Hindalco dips over 2% as Q1 net profit drops

By Religare
|

Shares of Hindalco fell over 2 per cent on Bombay Stock Exchange (BSE) after the aluminium maker reported a 67 per cent drop in the standalone net profit at Rs 107.19 crore for the quarter ended June 30.

The company took a hit due to lower metal realisation, high finance and depreciation costs. It had posted a net profit of Rs 327.50 crore in the year-ago period.

Standalone revenue of the company was up 7 per cent to Rs 8,575.27 crore in April-June quarter of this fiscal from Rs 7,996.14 crore in the same quarter of 2014-15, the company said in a filing to BSE.

 

Reacting to the news, shares of company dipped 2.20 per cent in intra-day trade to Rs 91.25 apiece on the BSE.

In a similar trend, shares of the company dropped 2.25 per cent to Rs 91.05 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,798.84, up 268.47 points, or 0.94 per cent at 10.51 hours.

Story first published: Monday, August 17, 2015, 12:30 [IST]
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