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Hindalco reports stand-alone net profit of Rs248.15 crore for March quarter

LiveMint logoLiveMint 29-05-2014 Ruchira Singh

Mumbai: Aditya Birla group’s flagship company Hindalco Industries Ltd reported stand-alone net profit of `248.15 crore for the fourth quarter of 2013-14, down 48.52% from a year ago, the company said on Thursday.

However, standalone revenue for the March quarter was at `8,435.06 crore, up 20.61% from the same period a year ago.

A Bloomberg poll of analysts saw Hindalco’s net profit at `350.9 crore on revenue of `7,488.8 crore.

Shares of Hindalco rose 2% to `150.1 on BSE in afternoon trading, while the benchmark Sensex was down 0.9% to 24,331.31 points.

Hindalco did not immediately provide a reason for the fall in profits, but analysts say the global decline in aluminium prices coupled with an oversupply of the metal are hurting the company which has invested heavily in expanding this segment.

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