Hindalco Industries announced a steep drop in standalone net profit for the quarter ended March 2015. During the quarter, the profit of the company declined 35.71% to Rs 1,595.30 million from Rs 2,481.50 million in the same quarter previous year.
Profit for the quarter was lower due to exceptional item of Rs 1.46 billion liability provided towards renewable power obligations.
Revenues for the quarter rose 11.10% to Rs 93,715.50 million, compared with Rs 84,351 million for the prior year period. Higher aluminium and copper sales volume helped the company to post growth in sales.
Earnings per share for the quarter stood at Rs 0.77, registering 35.83% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Mar - 15 | Mar - 14 | %Change |
| Revenues | 93,715.50 | 84,350.60 | 11.10 |
| Net Profit | 1,595.30 | 2,481.50 | (35.71) |
| Diluted EPS | 0.77 | 1.20 | (35.83) |
Shares of the company declined Rs 2.4, or 1.79%, to trade at Rs 131.70. The total volume of shares traded was 724,083 at the BSE (3.07 p.m., Thursday).
