Hindalco posts net profit of Rs 321 crore in Q3; shares up 2%
Aditya Birla-owned Hindalco on Monday announced its financial result for the quarter ended on December 31. The company reported a net profit after tax (PAT) of Rs 321 crore during the third quarter as against net loss of Rs 33 crore during the same period last year.
Earnings before Interest, Tax Depreciation and Amortisation (EBITDA) stood at Rs 1405 crore, up by 64% as against FY16. The company registered a revenue of Rs 9,915 crore, higher by 14% over the previous year.
The total income increased to Rs 10,134.7 crore in Q3FY17 as against Rs 8899.3 crore in Q2FY16.
The company in a regulatory filing said that the rise in revenue was driven by increase in average realisation for both Aluminium and Copper, along with weaker rupee and higher aluminium volumes.
"Aluminium revenue grew by 9% on the back of strong volume growth and realisation. Copper revenue increased by 19% on account of higher copper realisation, partley negated by lower by-product prices," the company said.
Soon after the announcement of financial result, the shares of the company rose by 2%. At 1412 hours the shares of the company were trading at Rs 185.50 per piece, up 1.92% or Rs 3.10 on BSE.