Hindalco Industries reported 30 per cent year-on-year (y-o-y) decline in its net profit to Rs 328 crore on the back of higher raw material and finance cost.
Its net sales grew 36 per cent y-o-y to Rs 7,930 crore as against Rs 5,837 crore reported in the same period last fiscal.
Analysts polled by NDTV had estimated its net profit at Rs 324 crore on sales of Rs 7,706 crore.
Hidalco reported total finance cost of Rs 338 crore in the reporting period as against Rs 149 crore last fiscal whereas its power and fuel cost increased 41 per cent y-o-y to Rs 1,137 crore.
As of 2.20 p.m. Hindalco shares traded 0.9 per cent lower at Rs 178.35 underperforming the Nifty which traded 0.65 per cent higher.
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