Hindalco Q4 Net falls over 35 Percent to Rs.160 crore

New Delhi, May 28 (IANS): Aditya Birla-led aluminium makers Hindalco Industries on Thursday reported a 35.7 percent decline net profit for the fourth quarter ended March, caused by higher power, fuel and finance costs.

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).