Total income from operations jumped 37 percent to Rs 7,996 crore in the quarter ended June 2014 from Rs 5,838 crore in same quarter last year supported by both copper as well as aluminium businesses.
World's largest aluminium rolling company Hindalco Industries missed street expectations with the first quarter net profit falling 30.9 percent year-on-year to Rs 327.5 crore dented by higher power and fuel, finance, and raw material costs. Profit in the corresponding quarter of last fiscal was Rs 474.1 crore. The profit base was also high in Q1FY14 due to other income, which included non-recurring income of Rs 203 crore. In the April-June quarter of current financial year, other income was Rs 216.30 crore as against Rs 427.94 crore in corresponding quarter of last fiscal.
Total income from operations jumped 37 percent to Rs 7,996 crore in the quarter ended June 2014 from Rs 5,838 crore in same quarter last year supported by both copper as well as aluminium businesses.
"Copper revenue grew by 37.3 percent on yearly basis to Rs 4,990.3 crore with earnings before interest and tax (EBIT) rising 28.5 percent while aluminium business reported 36.2 percent growth at Rs 3,011.30 crore with EBIT increasing nearly 4 times," said the company in its filing.
Raw materials cost 71.7 5139.5 2993.5 power and fuel cost 41% 1136.8 806.2 and finance cost 127% 337.56 148.7
World's largest aluminium rolling company Hindalco Industries missed street expectations with the first quarter net profit falling 30.9 percent year-on-year to Rs 327.5 crore dented by higher power and fuel, finance, and raw material costs. Profit in the corresponding quarter of last fiscal was Rs 474.1 crore. The profit base was also high in Q1FY14 due to other income, which included non-recurring income of Rs 203 crore. In the April-June quarter of current financial year, other income was Rs 216.30 crore as against Rs 427.94 crore in corresponding quarter of last fiscal.
Total income from operations jumped 37 percent to Rs 7,996 crore in the quarter ended June 2014 from Rs 5,838 crore in same quarter last year supported by both copper as well as aluminium businesses.
"Copper revenue grew by 37.3 percent on yearly basis to Rs 4,990.3 crore with earnings before interest and tax (EBIT) rising 28.5 percent while aluminium business reported 36.2 percent growth at Rs 3,011.30 crore with EBIT increasing nearly 4 times," said the company in its filing.
Raw materials cost 71.7 5139.5 2993.5 power and fuel cost 41% 1136.8 806.2 and finance cost 127% 337.56 148.7
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