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MENAFN - 06/11/2012

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(MENAFN) India's Hindalco Industries reported USD66 million net profit during its fiscal second quarter, for its Indian operations, down from USD92.3 million a year earlier.

The company, which is the flagship of Aditya Birla Group, said its quarterly sales dropped about 2 percent to USD1.14 billion year-on-year.

The company warned that rising input costs may impact performance in coming quarters after higher costs and lower production volumes in its aluminium business resulted in a 29 percent fall in its quarterly profit from domestic operations.

Hindalco is on track to boost aluminium capacity to 1.9 million tonnes by 2013 at a cost of about USD5 billion.

Aluminium business, which accounts for a third of domestic revenues, reported a 60 percent drop in profits from a year ago, due to operational disturbances at its two smelters, shortage of bauxite and higher fuel and material costs, the company said.

Copper segment, which accounts for two-thirds of the total revenue, saw profits rise 40 percent on better volumes and a weaker rupee during the quarter.

 






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