Hindalco Industries, a company of Aditya Birla Group has reported a net profit of Rs 460 crore for the third quarter of fiscal year 2011 ended December 31, 2010. Net profit rises 8% accompanied by higher aluminum prices.
Also, Q3 witnessed increase in the Company’s net sales and operating revenue by 12% at Rs 5,975 crore. The hike is due to better geographic mix and improved realization, despite of lower metal volumes.
The company discloses the reasons for lower metal volumes in the press release. It was due to the shortage of power at the Hirakund smelter and cooling tower shortage at Dahej smelter, which has affected the production.
Superior efficiencies and planned cost saving initiatives have helped the company to maintain its EBITDA. Hindalco also benefited from higher prices of aluminium business and better by-product realisation in copper business.
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