Hindalco’s net sales have grown by 14% to Rs5,683 crore. Net profit for the quarter was up by 12% to Rs720 crore. Aluminium business contributed Rs2,120 crore (Rs1,792 crore in previous year). Aluminium’s profit before interest and tax was up by 8% at Rs715 crore on back of 11% rise in volume, higher LME and a weaker rupee. Rising input costs have constrained profit to an extent.
Copper business sales were up at 12% to Rs3,565.30 crore on account of higher realisation and weak rupee. Volume of copper cathode sales has declined from 79,181 tonnes to 77,540 tonnes and CC rods has declined from 35,335 tonnes to 34,293 tonnes. The profit before interest and tax for the copper business grew 9.5% to Rs138.10 crore. The depreciation of the rupee against the dollar affected the copper business by Rs213.90 crore. PBIT of copper business is lower than the corresponding quarter of the previous year by Rs252 crore.
Hindalco has 20% market share in a total global market of 3 million tonnes rolled aluminium products; that contributes around 60% market share in domestic business. The company has acquired Novelis which ranks number one in Europe, South America and Asia in rolled products. Novelis has the second rank in rolled products in North America. –Dhruv Rathi [email protected]