Hindalco’s net profit dips 4% to Rs 433.5 cr; stock down

MUMBAI: Shares of Hindalco Industries were under pressure after its net profit for the quarter ended December declined 4 per cent to Rs 433.5 crore as against a net profit of Rs 450.6 crore in the same quarter a year ago.

Total income for the quarter increased to Rs 7,189.80 crore as compared to Rs 6738.56 in the corresponding quarter last fiscal.

“Hindalco’s top-line and bottom-line were below our expectations. EBITDA was down 18.6 per cent y-o-y to Rs 582 crore mainly due to higher input costs. Other income grew by 93.2 per cent y-o-y to Rs 174 crore and there were exceptional items of Rs 144 crore during the quarter. Excluding exceptional items,” said Bhavesh Chauhan, Senior Research Analyst, Angel Broking.

At 03:15 p.m.; the stock was at Rs 110.15, down 2.82 per cent, on the BSE. It touched a high of Rs 114.20 and a low of Rs 109.55 in trade today.