The company’s net profit for the quarter was at Rs.159.53 crore as compared to Rs.248.15 crore a year ago. Net sales for the quarter, at Rs.9,219 crore, rose 11.1 percent, compared with Rs.8,304 crore from a year ago.
The company said in a statement that power and fuel expenses rose 54.87 percent to Rs.1,425.72 crore, while finance costs rose 117.3 percent to Rs.466.34 crore. The Hindalco board has recommended a dividend of Re.1 a share.
Hindalco stock closed Thursday at Rs.132.00 a share, down 2.10 points, or 1.57 percent, on the Bombay Stock Exchange (BSE).