Financial Daily from THE HINDU group of publications
Tuesday, Jan 31, 2006

News
Features
Stocks
Shipping
Archives
Google

Group Sites

Corporate Results - Aluminium


Hindalco Q3 net falls on copper output impact

Our Bureau

Mumbai , Jan. 30

HINDALCO Industries Ltd reported a 13 per cent fall in its third quarter net profit at Rs 300.6 crore against Rs 347.3 crore in the year-ago period.

The performance of the copper business was impacted due to production losses resulting in the decline in net profit.

Net sales moved up by 15 per cent to Rs 2,873.7 crore (Rs 2,490.1 crore).

Aluminium business clocked revenues of Rs 1,564.4 crore, 16 per cent higher. "Sustained strength in LME prices, rising volumes and higher weight on value-added products were the key factors contributing to the growth," the company said in a news release. This boosted segment profit by 17 per cent to Rs 542.1 crore from Rs 462.9 crore.

Copper business revenues rose 14 per cent from Rs 1,145.4 crore to Rs 1,308.4 crore on the back of a rising LME. "The business faced its toughest quarter in its eight and a half-years history because of difficult business conditions," the company said. The 180 ktpa Smelter I took a routine bi-annual maintenance shutdown for 25 days. The 250 ktpa Smelter III, commissioned earlier this year, took a forced 19 days shutdown due to minor metal leakage and resultant damage to nearby equipment.

"Lower smelter up-time and consequent decrease in production during the quarter affected the profit adversely," the company said. The copper business also had to bear costs of repairs to the two big smelters, suffer backwardation charges and incur high expenses on liquid fuels, the company said.

Global aluminium consumption is anticipated to grow 4.5-5 per cent during 2006.

However, raw material costs — alumina, power, carbon materials — are impacting smelter margins adversely. Shares of Hindalco were nearly unchanged at Rs 160.45 on BSE.

Related Stories:
Copper is a drag on Hindalco performance — Second-quarter net down 7%

More Stories on : Aluminium

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Suzlon Energy net up 334 pc


Gujarat Ambuja Q2 sales up, net down 1.8 pc
Madras Cements Q3 net up at Rs 9.6 crore
BHEL net up 78 pc in Q3
United Phosphorus Q3 net up 37%
ONGC profit rises 11 pc to Rs 3,888 cr, turnover 3 pc in Q3
MRPL net slumps 93% on discounts
Sun Pharma PAT up 39 pc
Matrix Labs Q3 net at Rs 100.5 cr
Finolex Industries net rises 17 pc
NTPC Q3 net up 30 pc
Essar Shipping Q3 net down at Rs 31 cr
Essar Steel Q3 slips 30 pc
Tata Tea net zooms 127% on branded tea sales growth
Bombay Dyeing posts higher net profit
Apollo Tyres Q3 net at Rs 16.4 cr
Hero Honda Q3 net up on higher sales, cost rationalisation
TVS Motor net up 8.4%
Apollo Hospitals' Q3 net up 52 pc at Rs 16.9 cr
Emaar Properties clocks record net
Cranes Soft Q3 net rises 54 pc; to buy 2 cos
Polaris Software posts Rs 5.7-cr net loss — Co upbeat as orders are in the pipeline
Calsoft net profit up
i-flex net rises — Oracle President joins board
Hindalco Q3 net falls on copper output impact
Shringar Cinemas Q3 net loss at Rs 1.99 cr
Lower cost of deposits lifts PNB net 18 pc in Q3


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line