Hindalco Industries Q2 profit falls 11% to Rs. 393 crore, misses estimates
India’s top aluminium producer, Hindalco Industries Ltd, posted an 11% fall in second-quarter profit, missing street estimates.
Profit fell to Rs393 crore in the three months through 30 September, from Rs. 440 crore a year earlier. Analysts on average had expected the company to post a profit of 5.26 billion rupees, Thomson Reuters data showed. The company incurred a one-time expense of Rs106 crore, it said in a filing on Friday.
However, revenue from operations for the company, which also manufactures copper products and fertilisers, rose about 8% to Rs. 10,308 crore