India's Hindalco Q2 profit dives 21 pct, but beats estimate

By Kitco News / November 02, 2018 / www.kitco.com / Article Link

Nov 2 (Reuters) - Aluminium producer Hindalco Industries Ltd posted a 21.4 pct decline in Sept-quarter net profiton Friday, dragged down by rising input costs, but marginallybeat estimate.


Standalone profit after tax came in at 3.09 billion rupees($42.50 million) in the second quarter, compared with 3.93billion rupees a year earlier, Hindalco said .


Eleven analysts on an average had expected the Mumbai-basedcompany to report a profit of 3.07 billion rupees, according toRefinitiv data.


Revenue from operations for the company, which alsomanufactures copper products and fertilisers, rose about 5percent to 108.33 billion rupees.


($1 = 72.6975 Indian rupees) (Reporting by Mekhla Raina in Bengaluru, Editing by SherryJacob-Phillips)

Messaging: mekhla.raina.thomsonreuters.com@reuters.net)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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