One-time loss drags Hindalco Q1 PAT to Rs 290 cr; revenue rises 27% to Rs 10,407 cr
On an operating level, the company reported a profit fall of 2 percent at Rs 1,148 crore against Rs 1,125 crore in the June quarter of 2016
Aluminium major, Hindalco, on Friday reported a fall of 1.6 percent in its June quarter net profit at Rs 290 crore against Rs 294 crore reported during the same period last year. The company reported one-time loss of Rs 104.4 crore for the quarter as well. The profit figure came in lower than the analysts’ poll number of Rs 383 crore.
The standalone revenue was higher by 27.5 percent at Rs 10,407 crore against Rs 8,159 crore in the previous year.
On an operating level, the company reported a profit fall of 2 percent at Rs 1,148 crore against Rs 1,125 crore in the June quarter of 2016. Meanwhile, the operating margin came in at 11.75 percent against 14.8 percent year on year."...The company strengthened its balance sheet by reducing its gross debt. Hindalco delivered a robust operational performance. The overall demand from user industries remained subdued due to apprehension of GST roll out," the company said in a statement to the exchanges.