Hindalco FY 10 net profit at Rs 1,916-crore
Hindalco Industries said today that its net profit in FY 10 stood at Rs 1,916-crore.
By PTI |
MUMBAI: Hindalco Industries, the metals flagship company of the Aditya Birla Group, today said its net profit in FY 10 stood at Rs 1,916-crore as compared to Rs 2,230-crore in the previous fiscal.
Total income of the company during FY 10 stood at Rs 19,796-crore, whereas the same was at Rs 18,857-crore in the 2008-09 fiscal, the company said in a statement here.
Due to early adoption of AS-30, the figures of the current periods are not comparable with corresponding periods in the previous year, the company statement said.
During FY 10, other income of the company decreased to Rs 260-crore as against Rs 637-crore in FY 09, on account of low treasury corpus post-repayment of bridge loan in November 2008 taken for the Novelis acquisition and higher project spending.
The highest-ever metal volumes, better product and geographic mix despite subdued commodity prices helped improve the company's performance.
The capacity expansion at Muri and Hirakud has resulted in a 52 per cent rise in alumina production at Muri and metal production by 16 per cent at Hirakud in FY10.
During the year, the total alumina and metal production was up six per cent.
Hindalco's wire rod production soared by 23 per cent in FY 10.
Total income of the company during FY 10 stood at Rs 19,796-crore, whereas the same was at Rs 18,857-crore in the 2008-09 fiscal, the company said in a statement here.
Due to early adoption of AS-30, the figures of the current periods are not comparable with corresponding periods in the previous year, the company statement said.
During FY 10, other income of the company decreased to Rs 260-crore as against Rs 637-crore in FY 09, on account of low treasury corpus post-repayment of bridge loan in November 2008 taken for the Novelis acquisition and higher project spending.
The highest-ever metal volumes, better product and geographic mix despite subdued commodity prices helped improve the company's performance.
The capacity expansion at Muri and Hirakud has resulted in a 52 per cent rise in alumina production at Muri and metal production by 16 per cent at Hirakud in FY10.
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During the year, the total alumina and metal production was up six per cent.
Hindalco's wire rod production soared by 23 per cent in FY 10.
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